In August Riverwood Manufacturing recorded the following information pertaining to its use of materials in Work in Process (equivalent units are denoted by EU): Beginning inventory............. 4,000 EUs @ $3.375 per EU Materials added................. $208,000 Completed units transferred out. 40,000 Ending inventory................ 15000 EUs What is the weighted average cost per equivalent unit of materials for the month of August? (Round to the nearest $.001.)