You are correct that you are only saving 14 cents (media category) on this penny sale promotion, or 24 cents if not in the media category.
My opinion on 1 cent or 99 cent sales is they are a WASTE OF TIME.
I recently listed something at 99 cents because I wanted to get rid of it. It had already been listed twice before at 9.99 and 4.99 unsuccessfully.
Well, it sold for 99 cents. Paid for by Paypal. Postage was $4.60.
So if you take the listing fee, FVF fee, and Paypal fee on $5.59, I netted 24 cents. Consider I listed it twice before and the net LOSS is -60 cents or so.
Even had I not listed it twice before, net earnings of 24 cents to take pictures, list, pack, and take to PO, is a WASTE OF TIME.
Reserve fees are NO LONGER REFUNDED even if the item sells, so add that $2.00 to your costs.