. The Wright Company has a standard costing system. The following data are available:

Actual quantity of direct material................................................................................ ................................................................................ Actual quantity of direct material purchased and used................................................................................	25,000 pounds
Standard price of direct material................................................................................	$2 per pound
Total material variance	$7,000, favorable
Material quantity variance................................................................................	$9,500, unfavorable

The actual price per pound of the direct material is: $_____