Brake job, '03 E320

My '03 E320 will be needing 4 new pads & rotors (I can tell by the noise it's making).
How much should this cost? $1200?
It's been a while since I've needed a full brake job on any of my cars.

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Pads OK, Rotors too? Why?
IMHO Rotors should last three changes of pads - unless of course you ground the pads down to nothing and thus badly scored the rotors.
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