Silver crafts, inc. purchases and sells bracelets. the following information summarizes the company's operating activities for the year: selling and administrative expenses $5,300 purchases 157,000 sales revenue 785,000 merchandise inventory, january 1 2,350 merchandise inventory, december 31 38,350 if the company sold 7,900 units of bracelets during the year, how much is the cost for one bracelet? (round your answer to the nearest cent.)