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Try running Adsense for a fortnight and see what that gives you in terms of CPM. Definitely do not charge less than that!
Just run a 24 hour test on banners, the part of my site that is running the ads actually gets about 20,000 a day. The rest of the site is made up of normal html so there's no way I can run banners on those pages.
Pubcon Platinum Sponsor 2015