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Hiya, another Newbie! Any tips on costing?

Hi everyone
I've been working as a designer for 8 years and I've decided to go freelance.
I have a job lined up for some toy packaging with a client I am familiar with but I have no idea how to cost it. Do I charge per product (ie. pack and manual), per hour, or a fixed daily fee?

Any advice would be great!

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