Since it would be your first time doing it, just plan on it being an all day job, around 8 hours. It's a lot of steps to take apart and put back together so you should take your time, be very organized, and not be in a rush. If you were experienced with the job, then I'd say it would take around 5 hours to do. If you were a paid mechanic that did this job all the time, maybe you could pull it off in 3-4 hours doing everything right and not cutting any corners.
For big jobs like this, people on forums always quote ridiculous times, like "I did it in a couple hours." Every time I hear people quote times like this, I call BS.
The shop rates depends on what part of California you are in. In the Bay Area where I'm at, Toyota dealers charge around $200/hour and good independent shops are around $150/hour. It would be my guess shops are going to bill at least 4 hours for this job so maybe $600 labor plus parts. Once you start calling around and getting quotes, you'll find out how many hours the job bills for. Good luck!