In a coordinate plane, a triangle is formed by the vertices at the points A(1, 2), B(7, 2), and C(4, 6). Calculate the area of triangle ABC.
Use the formula for the area of a triangle given by the vertices at coordinates $(x_1, y_1)$, $(x_2, y_2)$, and $(x_3, y_3)$:
$$ ext{Area} = rac{1}{2} imes |x_1(y_2 - y_3) + x_2(y_3 - y_1) + x_3(y_1 - y_2)| $$
Find the area and express your answer as a decimal to two decimal places.