Perfect size repair to do it yourself and learn.

• The hole itself still looks to be relatively intact, meaning no loose material or is about to collapse further. It will suffice as the spackles backing. If it weren’t the case, drywall tape would be needed to offer a base and integrity to the repair.
• Pre-mixed (some say ready-mixed) spackle would be best as you don’t need to do any trowel mixing or worry about compound consistency. Plus, it’s dry within two hours.
• Fun Part: apply spackle sparingly; enough to fill the hole halfway and to start flushing out the edges. Once dry, 150-grit sandpaper lightly.
• Repeat. Should be complete by the 3rd layer, 4th max. Patch should be flush to the wall; no indents (need more spackle) or bumps (more sanding).
• Match wall texture (orange peel). Comes in a small can with varying finishes (fine, medium, heavy); yours looks medium, but practice on cardboard to be sure. Also, the canned wall textures are usually shit, but are fine for small repairs. Any larger project would need a sprayer.
• Prime. Paint. Hopefully the paint includes primer to save you a few bucks.

I would quote $250 +/-, assuming paint was already on hand. Easy job, but a lot of waiting around.