Flying flick, it depends how you do it!
I think ATO's charge a flat fee for conducting the renewal - ie can't remember if its $100 or $200.
The cheapest way is to do most of it in a stimulator and then just go do the aid that is nearest/easiest to get on to, in the cheapest twin available that you are comfortable flying. You only have to fly one aid in the aeroplane for a renewal. My guy would do - EFATO, APR, asymmetric missed APR, steep turns, partial panel with recovery from unusual attitudes, circling APR.
However, I find it easier to fly the aeroplane than a PC Stimulator - so I do the whole shebang in the Bo - don't need the twin cause I h'aint got one to fly. Probably takes me 2 hrs in the aeroplane.
Dr 