You did not say how deep, but let's say 2" -- that makes the blanks ~24 in^3, so $6-$7 for material, and something like 30 seconds of roughing and 30 seconds of finishing machining get to the C-shape. I don't know if your extrusion would be net, or if it needs cleanup. If it's net, you wouldn't need finishing time.
So, if you expect to make fewer than like 200-400 (depending in extrusion die cost), machining would likely be cheaper than extrusion. More than that, and it gets interesting.
You said you wanted 1/4" walls so bending would be tricky.
Cutting one side off of 4x4 square tube might work though (if I have the C--shape envisioned correctly). Could be relatively a PITA to cut off one side, but probably there is a fixture that makes this easy and fast.
Regards.
Mike