Use the average daily balance method to compute the finance charge on the credit card account for the month of August (31 days). The starting balance from the previous month is $240. 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 biling date is August 1st. Date August 8 Made payment of $81 August 14 Charged $140 for hiking boots August 21 Charged $27 for gasoline August 28 Charged $28 for restaurant meal The finance charge for the month of August is $ (Round to the nearest certas needed.)