A firm produces and sells calendars. Last year, it produced 3,250 calendars and sold each for $10.
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A firm produces and sells calendars. Last year, it produced 3,250 calendars and sold each for $10. In producing these calendars, it incurred variable costs of $25 000 and a total cost of $48 000. What were the firm's fixed cost per calendar. Express your answer to the nearest cent.
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