To find the cost of each of the first three tires, let's set up the problem:
Let the cost of each of the first three tires be \( x \). According to the deal, the cost of the fourth tire is $5.
The equation for the total cost of the tires can be represented as:
\[ 3x + 5 = 237.50 \]
Now, we will solve for \( x \):
- Subtract $5 from both sides:
\[ 3x = 237.50 - 5 \] \[ 3x = 232.50 \]
- Now, divide by 3 to find \( x \):
\[ x = \frac{232.50}{3} \]
Calculating this gives:
\[ x = 77.50 \]
Therefore, the cost of each of the first three tires is \( \boxed{77.50} \).