Let me preface by saying that I'm not a graphic designer by trade; however, as an unemployed urban designer, I take work where I can get it. That said, a friend of a friend is starting up a small longboard (skate, not surf) company, and asked if I would design the board for his first run. I accepted, haven't begun work, but want to know what a decent going rate would be. As I mentioned, I'm not a pro in the graphics field, but I'm a fellow design professional by trade with more than enough knowledge of Ai and Ps to do an excellent job. He's really just looking for one board design, that'll likely go through a couple of client revisions before it gets the seal of approval. Flat rate? Hourly? If so, what is generally expected as the going rate, and more importantly, what is fair for both parties? I really appreciate the help!