Embedded Audio DSP

For my E90 project I will develop a low cost embedded DSP (digital signal processing) platform. The product is intended for rapid DSP application prototyping or to be used as an accessible educational tool in an introductory DSP course. My goal is for the board to be a fully functional DSP able to work at audio sample rates (up to 96 kHz sampling rate). The final development platform will be a printed circuit board coupled with a C library providing API level control of the system. I expect the project to cost approximately $300 which will cover the cost of expedited PCB manufacturing and the circuit components for at least three rounds of prototyping.