A fruit retailer buys $50$ pounds of apples from the wholesale market every day. The retailer has observed that $20\%$ of the apples bought each time are not of good quality.

Since it is not possible for the retailer to check each apple before buying, how much should he pay for each pound if he values good apples at $$1\mathrm{.}40$ per pound and has a value of zero for bad$-$quality apples?

$$0\mathrm{.}80$

$$0\mathrm{.}70$

$$1\mathrm{.}20$

$$1\mathrm{.}12$