A leading marketing research firm conducted a telephone survey of 550 young adults aged 21 to estimate the average amount of money they intend on spending on political contributions in their first federal election cycle. The data is normally distributed, with the highest amount being $1,175.00, and the lowest amount being $5.00. The sample mean is $110.00. What is the margin of error, rounded to the nearest hundredth, for these first time voters?