I say photoshopped
It's darker in the back of the room, and the shadow on the the post it is casting is very sharp, like there is a bright light over it
photoshopping a square like that is the easiest thing to do… if there were anything overlapping the cardboard, it would be more legitimate
That would be almost an impossible picture to take and to get the text that clear
nice job anon… what a pain in the ass to get all the pictures and put them in! good job