Annette has a bank card. Her billing date is July 4. The balance due at that date was $870. She sent a payment of $400, which the bank received on July 12. She made a new purchase for $200 on July 31. What will the finance charge be for August 4 if the bank charges 1.25% per month and uses the average daily balance method? O A. $8.38 OB. $7.49 O C. $7.79 OD. $10.88