Want to have a plumber install a utility tub in the basement. How much will it cost?

I want to have a plumber install a utility tub in the basement of my home, next to the clothes washer. There is already a water line and drain there that could be tapped into. I had a company do an estimate today and they said it will cost $1185! I'm not a plumber, but that seems like WAY too much! That price does include parts, but the utility tub costs $149 and the faucet costs $89! The plumber planned to tap into the existing water and drain pipes that are already there for the washing machine. What would be a fair price for this service? Based on your experience, do you think this company is overpriced? I'm definatly getting an estimate from another company.