I agree with the comments on the Koyo DL05 and 06. They are nice units and the support software is pretty good. Unfortunately you have to buy the full software, which will exceed the hardware cost for your one-off project. AutomationDirect has recently added a "Click" lower cost PLC with completely free software, but not sure what it can do.
You might also consider the Eaton/C-H ELC line, which starts at $99 and has RS485 for Modbus. Programming software is free. The documentation and software are not even REMOTELY close to the quality of the Koyo (massive boo to Eaton!), but if you are willing to work at it you can figure it out. And the product does appear to reliably do what it claims.
I am using the Eaton PV28 "high performance" controller, because that base PLC will accept TWO moderately fast quadrature encoders with NO added hardware, for only $299. Try that with a Koyo and you will rapidly run through dollars.