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how much should I charge?

Recently I have been contacted by a company that has asked me to texture a few models for them. To figure out how much I cost they sent me a picture of one of the character models I would be texturing and asked me how much I would charge them to create diffuse, normal and specular maps for it. The problem is I have no idea what to charge them. I was thinking of doing some kind of hourly rate thing. I would really like to hear what you all have to say. Thanks

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