What Should I Charge For Album Artwork?

Im an illustration student still in school and a friend of mine asked if i could design a cover for their album. Im also designing a custom logo for their band name. The problem im having is pricing it. Hes a good friend of mine so i dont want to charge what it would really cost, im happy to do it at a big discount for a friend. Also, its a small garage band so i know they dont want to pay a ton of money, however i am putting a lot of work into it and dont want to just give away my work. Any opinions would be great, thanks

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