What is the cost to program a key for a 1997 BMW 740IL?

My EWS went bad. I bought a new one and also had to purchase a new key. The mechanic is charging $450 in labor! Seems unfair for only 2 hrs of labor, maybe even less. I am trying to break down the charges. What would be the cost of programming the key? What should be the labor charge tio install the EWS module?What is the cost to program a key for a 1997 BMW 740IL?not sure