To find the cost per pound of the ham, you can divide the total cost of the can by its weight in pounds.
Cost per pound = Total cost / Weight in pounds
In this case:
Total cost = $11.86
Weight = 7.75 pounds
Cost per pound = $11.86 / 7.75 ≈ $1.53
Therefore, the ham costs approximately $1.53 per pound when rounded to the nearest cent.