If you calculate at 2 3/4 lb. raw bacon per can it comes out to around $4.25 lb. That’s a bit more tolerable.
But you don’t get 2.75lb of raw bacon, you get 9oz of cooked bacon, and you don’t get the benefit of being able to use the renderings.
12x9=108...108/16=6/75...140/6.75=20.7