Edit: I was posting at the same time as you techguy.

techguy:

You should be figuring out how much labor and materials are involved in this project and bidding accordingly. What if I told you 3K, which would be low? Would you lower your price? What if I quoted 50K? Would you higher your price?

I did a search on your user name to try and figure out if you were in the business (because your question is a little bit unusual for soemone that's in the business) and discovered that you asked the same type of question almost a year ago:
[Link: remotecentral.com]

*It's good that you are asking questions* but you really need to learn more about estimating if you are asking these questions. Break your project down into tasks and ask yourself how long it is going to take to complete each of those tasks and price your bid accordingly. For instance, 1 hour to pre-wire for each speaker wire run. And don't forget to add time for all the things that are often overlooked such as the 10 visits spent with the client going over locations etc....

Only you know what the hourly labor rates are in your area that you have to compete against.