Is my EPSON printer compatible with new 2024 iMac?

Yes. I have that model and it is working flawlessly. with my Mac Mini M4 running Sequoia. I ran it previously with an Intel iMac running Ventura and a couple off earlier systems.

It's AirPrint compatible and all you need to do is log it into your LAN via its control screen.

Yes. If you do a lot of doc's and photos, then consider an Eco-Tank model instead of the XP-7100.

https://epson.com/ecotank-home-office-printers

Yes. The refill cartridges from Epson are expensive and can easily surpass the cost of the printer/scanner itself.

I would avoid it like the plague:

It’s the business model for all inkjet printers. Since day 1…