DIY tire balancing?

Hey folks:
Here's my problem. I need a rear tire. I called the local dealer, and was quoted $290 labor to mount, balance and install a rear tire. I don't know if that's a normal price, but it seems awful high to me. Anyway, my plan is to tackle this job myself. I'm fortunate enough to be a high school auto shop teacher, therefore I do have a machine capable of breaking the bead. What I don't have is a motorcyle wheel balancer. We do have an automotive high speed balancer, but I'm not sure if it's applicable for this job. Any suggestions on how to balance this tire would be appreciated.
Thanks...Kjones
 
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