In my case i do only a slight sanding to provide sufficient adhesion to the old layers. For my boat (B46) the coated area of AF is approx. 45m2, a B40 should be a little less. Calculation: LW(m)*(Beam(m)+Draught(m))*0,5 = coated area(m2). Needed amount of AF depends on Yield of AF per m2 (in my case 10m2/Liter and layer). 10 Liter were more than sufficient for my boat. Usually no need for a primer.
I applied two layers ion the overall bottom, and applied the remainig amount of AF next to the waterline, where the growth of fouling is intense.
In my case the AF will last 2 seasons (in the adriatic), with scraping small barnacles off in a dive with snorkel at the mid of 2nd season.
Remember wearing protective cloth and face mask when sanding the old AF, which is a pretty nasty stuff.
Applying AF needs suitable weather conditions (dry weather, no rain, and temperatures above temperature like recommended by AF product manual).
For full cost don't forget the liftout and -in, and other stuff when out of water, like changing anodes on saildrive and thuster, changing oil in Saildrive, polishing the hull, checking seacocks and rudder bearings,.. if necessary.