To find the cost of each of the first three tires, we can set up the problem as follows:
Let the cost of each of the first three tires be \(x\).
According to the holiday deal, the total cost for three tires plus the fourth tire for $5 can be expressed as:
\[ 3x + 5 = 237.50 \]
Now, we can solve for \(x\):
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Subtract $5 from both sides: \[ 3x = 237.50 - 5 \] \[ 3x = 232.50 \]
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Divide both sides by 3: \[ x = \frac{232.50}{3} \] \[ x = 77.50 \]
Therefore, the cost of each of the first three tires is $77.50.