Amazon offer Prime members the Swingline Low Force 1-Hole Punch, model no. A7074017, for $2.99 with free shipping. (Non-members can spend $35 to qualify for free shipping; otherwise, it adds $6.18.) That's the lowest total price we could find by $2. It has a 20-sheet paper punch capacity and hinged chip tray.

Note that this item is temporarily out of stock, but can still be ordered at this price for delivery when available.