I'd suggest looking at layeredtech.com for that kind of server, I believe they have exactly that for $80, you'd just need to check the cPanel box when you order it.
AMD Sempron 2600
1024MB RAM
2x80GB Hard Drive
Bandwidth: 1500GB
IP Addresses: 8 (5 Usable)
CPanel Included
$99/month
$0 Setup