The Hope club had a fundraising raffle where they sold 1055 tickets for $4 each. There was one first place prize worth $996 and 7 second place prizes each worth $18. The expected value can be computed by:
$\displaystyle {E}{V}=\frac{{{996}+{\left({18}\right)}{\left({7}\right)}+{\left(-{4}\right)}{\left({1055}-{1}-{7}\right)}}}{{1055}}$
Find this expected value rounded to two decimal places (the nearest cent).