What is an good CPM rate for banner/pop up advertising on a webpage?

Traffic on website = about 5,000 to 10,000 uniques each day. I've been quoted $1.50 CPM for a popup. That seems very low to me.

What's the going rate for pop ups? How about for a 720x90 banner ad?

Thanks for your help!
Update: Already have Adsense going, paying about $2 daily. It's a humor website, nothing for sale.
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