The wholesale price for a pair of shoes is $7.50. A certain department store marks up the wholesale price by 60%. Find the price of the pair of shoes in the department store. Round your answer to the nearest cent, as necessary.

Given:
Wholesale price for a pair of shoes is $7.50
[tex]\text{The price of pair of shoes in the departmental store=7.50}+(7.50\times\frac{60}{100})[/tex][tex]\text{The price of pair of shoes in the departmental store=7.50}+4.50[/tex][tex]\text{The price of pair of shoes in the departmental store= \$12}[/tex]