Seems awfully high, got any other sources around? I live in the sticks, and my costs were quite a bit lower. Tank rent was $11/mo. or $80/yr., gas was about $60. In addition to argon, check the cost of plain compressed air. In my case, N2 was cheaper, but air might be less for you. BTW, each cylinder lasted me a good 6 months, and that was shooting multiple high volume guns a LOT. You might also want to check the cost of an annual lease on the cylinder, instead of month to month. Good luck.
Dave