Flannery Company, a manufacturer of small appliances, had the following activities, allocated costs, and allocation bases: Activities Allocated Costs Allocation Base Account inquiry (hours) $79,000 3000 hours Account billing (lines) $31,000 17,000 lines Account verification (accounts) $12,000 25,000 accounts Correspondence (letters) $11,000 1400 letters The above activities are carried out at two of its regional offices. Activities Northeast Office Midwest Office Account inquiry (hours) 120 hours 300 hours Account billing (lines) 10,000 lines 7000 lines Account verification (accounts) 1500 accounts 700 accounts Correspondence (letters) 60 letters 110 letters What is the cost per letter for the correspondence activity? (Round your answer to the nearest cent.) 50.48 $7.86 $22.14 53.67