Use the average daily balance method to compute the finance charge on the credit card account for the month of August 61 days). The starting balance from the previous month is $310. The transactions on the account for the month are given in the table to the right. Assume an annual interest rate of 16% on the account and that the billing date is August 1st. Date Transaction August 8 Made payment of $82 August 10 Charged $130 for hiking boots August 22 Charged $25 for gasoline August 25 Charged $34 for restaurant meal The finance charge for the month of August is $ (Round to the nearest cent as needed)