At a price of $4.76 per pound, the supply for cherries is 16,289 pounds, and the demand is 10,377 pounds. When the price drops to $4.38 per pound, the supply decreases to 10,515 pounds and the demand increases to 12,727 pounds. Assume that the price-supply and price-demand equations are linear. What is the equilibrium price? $ per pound. Round to the nearest cent.

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