I honestly do not remember how much floppy disks used to cost; it's been... probably over a decade since I bought one. But $1.26 seems pretty reasonable for such a use.
That's not $1.26, that's about $5. The actual postage to ship something that small would be $1-2, but they're charging $5, which means the shipping cost is really just a way to make the purchase price look smaller.