Charge out price for SN2 Laser jobs

I have got some serious interest from 2 business neighbours where I work for laser engraving in wood.
What is the best way to work out a charge out rate?

Whats the lifetime of the laser unit and replacement cost? +Electricity + SN2 cost for overhead cost then anything on top is profit.

Or real simple and go $500 (or whatever you deem) /day 8hrs = $62.50/hr ?

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Replacement laser cost is $154 plus $20 shipping.