WhatFor, Ltd.'s output for the current period is 25,000 units. The standard price per pound is $6.00 and the standard quantity is 1.8 pounds per unit of output. The production manager noted a $10,500 favorable direct material quantity variance and an $11,125 unfavorable DM cost variance for the period. What is the actual price per pound for the period (rounded to the nearest two decimal places)