Answer

The cost of adopting Ranked Choice Voting would not be significant because the voting machines and systems used by Iowa are already compatible:

A list of voting machines and systems used in Iowa is available at https://sos.iowa.gov/elections/pdf/covotesystem.pdf.

Some of the manufacturers' brochures addressing their systems and RCV are available at https://www.dominionvoting.com/download/rcv/?wpdmdl=67454&masterkey=5f1f590f2ec3b and https://unisynvoting.com/wp-content/uploads/2018/08/OCS-Brochure-8-16-17.pdf.

More information from FairVote is available at https://www.fairvote.org/voting_systems_and_rcv.