Using the page yields Epson provides (4,000 black, 6,500 color), I calculated the cost for both black-only and full-color pages to be 0.3 cents and 0.2 cents per page.

Epson is bringing its EcoTank ink system stateside. ... For the home, with an in-box ink yield of up to 4,000 black and 6,500 color pages and print speeds of up to 9.2 ISO ppm ...