Over the last few months, Ithaca Precision Instruments (IPI) obtained the following measurements on a key quality characteristic of its product:

Observed Quality Characteristic	Probability
0.46	0.05
0.47	0.10
0.48	0.12
0.49	0.15
0.49	0.30
0.51	0.12
0.52	0.10
0.53	0.05
0.54	0.01

The company's experience has been that a customer will reject a product that deviates from the target quality characteristic of 0.50 by more than 0.040. Each rejection costs the firm an estimated $5.20. Determine the expected total quality loss of the observed quality characteristic for IPI. (Round intermediate and final answer of to 4 decimal places.)