Depends how much work was done for that sum. Decent photographers and designers are expensive - many companies I've worked for fork out that sort of money for one project, let alone a year's worth of work. You do need to question the conflict of interest involved in granting the work, but to be fair, the quality of presentations and photography coming out of PEH recently has been very very good.
Depends how much work was done for that sum. Decent...
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