In John Balfour's credit card account interest is charged on the average daily balance. The cycle begins on May 4, and the cycle ends on June 3. The beginning balance is $286.57 A payment of $100 is posted on May 18. A charge of $15.57 is posted on May 7 A charge of $59 24 is posted on May 12 A charge of $11476 is posted on May 29. John is charged 1.62% per period. What is the finance charge for the cycle? The finance charge for the cycle is $(Round to the nearest cent as needed)