Does the yearbook have business ads in it? If so, I don't see why they should be charging so much. If they don't have ads or don't have many, then they probably do have to charge that much to cover the cost. I've done yearbooks for high schools before and the most recent one was 136 pages, 16 color and the rest black and white, and the cost was around $10,500. Most of the cost was covered by selling ads to businesses, so the kids were charged $30. Same size yearbook in all color would be $13,000-$14,000, and this is from one of the more reasonable publishing companies.