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You should never, ever, give any work away for free. Unless you're donating your time or talent to charity. Or, as a favour.
Ask yourself, would your friend give you his services for free? Or, for credit?
Giving things away for free devalues your skillset, as well as craft; it also sets a precedent.
Getting credit doesn't pay bills; money does.
I know it's hard because it's a friend involved. And, money can ruin friendships. It might be easier to decline.
This is an endemic problem nowadays in the professional photography world. People don't know how to price, and copy everyone else, or, worse, undercut.
If you are serious about making some cash, I would get in touch with someone from the AIPP or ACMP.
I can point you in the right direction with regards to the AIPP.
H
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