Formal analysis techniques are widely used today in order to verify and analyze communication protocols. In this work, we launch a quantitative analysis for the low-cost Radio Frequency Identification (RFID) protocol proposed by Song and Mitchell. The analysis exploits a Discrete-Time Markov Chain (DTMC) using the well-known PRISM model checker. We have managed to represent up to 100 RFID tags communicating with a reader and quantify each RFID session according to the protocol's computation and transmission cost requirements. As a consequence, not only does the proposed analysis provide quantitative verification results, but also it constitutes a methodology for RFID designers who want to validate their products under specific cost requirements.