Wow! That's a lot of money.
“Many people hear voices when no one is there. Some of them are called mad and are shut up in rooms where they stare at the walls all day. Others are called writers and they do pretty much the same thing.”
Personally I tend to avoid anywhere that charges a reading fee. As if it's not enough that they will make money off whichever submissions they choose they want you to pay for that privileged. It's like a builder expecting the brick maker to pay them to use their bricks!
It's bad enough that publishers pay writers in peanuts without encouraging them by volunteering your money up front. There are plenty of places out there that will read submissions for free.