On the 1st of the month, the beginning balance on Ashley's charge account was $1,299.34. A payment of $119 was made on the 14th of the month. Purchases of $67.50 were made on the 21st of the month. The charge account has a 31-day billing cycle with a monthly rate of 1.6%. Using the average daily balance method, what is the new balance?
$1,267.91;
Business
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