$0,02 CPM - expensive or too cheap?

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Deleted member 47776

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I have authority website in music niche (guitar lessons, news, reviews, videos etc) with

~1,500,000 PV/month
~100,000 UV
22k pages
+32k members
+33k FB fans

those are average numbers from 1/1/13 - 8/26/13 based on GA, summertime months are lower than rest of the year, so my usual uniques are around 7-9k per day from september to june. Site is in Croatian, most of my visitors are from Croatia, Serbia and Bosnia. I get around 90 visitors a day from USA.

I want to tap into CPM advertising on my site and earn more, since AdSense isn't paying well since my site is not in English.

So, I was calculating a little, and I got the $0,02 CPM.

Is it expensive or cheap?

Banner size will be 468*90 (not the standard size, but it's already integrated in my website template), ABOVE the fold.
 
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