Facebook Ads Help

Can anyone provide me with information on how to calculate cost per click of facebook ads and tell me what the typical conversion rate on sales is for them?

I did some snooping around and saw that many were putting the CPC of a facebook ad at $0.29 cents but when I created a dummy ad for a fake buisness page it was saying the cpc would be around $0.07-0.19 which is WAY lower then what I had seen around online.

If the ad is linking to a decent landing page what kind of percentage can I expect for conversions?

There is no one who can answer that. And never ever look at what FB is saying your CPC would be.

CPC and conversion rate depends on sooo many factors, from your copy, offer, image/video, audience (age/gender/country), platform, device, to your landing page, product copy, images, important info, shipping times (if you have a store), overall website performance, and thousand more
What does a decent landing page even mean?

Depends on many factors
You need to test to see real results