Hardware when working with RED footage + a little dilemma.

HI guys Im in a bit over my head here and I could really use your advice.
The thing is Im just breaking into the whole vfx industry and just been offered my first real freelance assignment. Its a commercial shot with a red camera at 4k. I know i have the know-how to pull this of but im not so sure if my computer can, im especially worried about outputting it all.

My computer is a AMD Athlon 64 dual core with 3 gigs of ram and a ATI radeon 3200 HD card… Yeah know but as newly graduated its all i can afford.

I know i can work i 1080p and that you can call on a low resolution sample of the 4k red footage, but do you think my computer could handle it? I don’t want to accept any assignment I cant pull of but then again it would suck if all thats keeping me from really breaking in to the industry is the hardware. And if i don’t get any money I cant buy new equipment etc etc.

So what is your advice? Can my computer deal with red footage? Is there any work around? Or should i just decline?

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