Question: John forgot to pay his $ 4 1 0 . 0 0 income tax on time. The IRS charges a penalty of 1 2 %

John forgot to pay his $410.00 income tax on time. The IRS charges a penalty of 12%(this is the annual percentage rate). John was 61 days late in making his payment. How much did John need to pay in penalty charges? (Use a 365-day year.) Round to the nearest penny.

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