Create timing circuit for an ultrasonic sensor

I need a timer circuit for a standard off the shelf utrasonic sensor to be designed to read the depth of liquid in an steel container. Steel walls max 3.5mm thick
There is no requirement for a display. Just provide a working sensor that will send data ( Depth of LPG in hex or Dec,) back to our IC for our further processing.
I have a sample sensor you could possibly use. The details are as attached in the spec sheet. If this is not suitable you are free to select the most suitable off the shelf sensor.
The sensor you choose must meet set parameters. Full spec sheet will be provided to the selected engineer, but as a general idea will include:

Operating Voltage 3.3-5V
Height detection 30mm-1000mm
Output method UART Controlled ( Full details provided later but wil include UART Leads/ UART Timing Diagram/UART Controlled Communication Description/ UART Controlled Output format/Modbus protocol description/ format/ register etc)
Resolution 1mm
Cable lenghth 2500mm
Max depth 22mm
The sensor example in the document as well as the circuit provided are for your reference only and you may freely use the optimum sensor and PCB you choose.
But total manufactured cost of sensor and PCB timer circuit must not exceed 7.50USD so you must design down to a cost but with high quality of components. Many sensor types are available to choose from.