How much to charge co-worker for freelance design

[rapidcars]

A co-worker of mine needs a pretty basic website setup for a new gym him and a few of his weightlifting buddies are opening up. Nothing fancy, just a few graphics, menus, picture galleries and contact info. Figure about 4-8 pages total with nothing more complicated than a submit form. I'm the web designer for the company so he approached me about it and asked if I could give him a quote.

I don't have much free lance experience and I want to cut him a break but at the same time I'm worried about giving too low a price as he's an accounting executive and has some say on my salary. I'd also be taking time away from working on my own website which I would have to take into account. This is my first web design position and I've been here 1.5 years. I make about $22 an hour at my job so I was thinking of charging $25 an hour so I came up with:

Overall layout (graphics, navigation, in-person meeting etc.) 8 hours $200
Coding Template - 4 hours $100
Contact form - 2 hours $50
Each additional basic page 1 hour $25

So the total would fall somewhere between $400-600. Does this sound about right? Sometimes I think it seems too low especially considering I'll be doing this on weeknights/weekends but on the other hand it seems like a lot to me for just a basic website.

[BananaFish]

Never do work for a friend or co-worker. They will expect breaks every step of the way, for them, too much is not enough. If he's starting a legit business, he'd be better off paying another designer and keeping everything professional.