To find the cost, \( c \), of each bag of lemons, you can divide the total cost by the number of bags.
Given that Julio bought 5 bags for $19.75, the equation can be modeled as:
\[ c = \frac{19.75}{5} \]
So, the complete equation is:
\[ c = 3.95 \]
This means each bag of lemons costs $3.95.