That seems like an awful, but it all depends on your location and the airports location. If it is a busy airport the rates may be a little more competitive, if it is kind of out there, and they do not have a large student base they may raise the rates. I instruct in CT and NH and the number I've seen to go from private to cfi is around 30K. When I went through and got all my ratings I spent between 25k and 30k.
I would shop around some more, expect to pay a lot, but don't necessarily go for the cheapest option and go to some pilot factory. Best of luck.