Presley bought 1 1/2 yards of fabric for $12.23. How much did Presley pay per foot of fabric? Round to the nearest cent. (1 yard = 3 feet)

Presley bought 1 1/2 yards of fabric which is equal to 1.5 yards.

Presley paid $12.23 for 1.5 yards of fabric.
Presley paid $12.23 / 1.5 = $<<12.23/1.5=8.15>>8.15 per yard of fabric.
Since 1 yard is equal to 3 feet, Presley paid 8.15 / 3 = $<<8.15/3=2.72>>2.72 per foot of fabric. Answer: \boxed{2.72}.