Freelance rates

[FONT=Times New Roman][SIZE=3]Dear all,[/SIZE][/FONT]
[FONT=Times New Roman][SIZE=3]I am trying to get a hold as a flash freelancer, however I do not know anything on freelancing rates. Have been asked to create a flash site. How should I charge? By the hour, by the site? Could you recommend of an hourly rate or a full site rate? If it is charged by the hour, how many hours does it usually take for a flash site to be completed? If it is charged by a full site rate how is the price calculated? I just want to be fair and square with the client that is why I am asking you all for your views![/SIZE][/FONT]
[FONT=Times New Roman][SIZE=3](I hold a BA in Graphic Design and an MFA in Interactive Media and have been working in the web & gaming sector for the past 4 years but never freelanced before).[/SIZE][/FONT]
[FONT=Times New Roman][SIZE=3]Thank you![/SIZE][/FONT]
[FONT=Times New Roman][SIZE=3]Ellen[/SIZE][/FONT]