JCPenney offers the Columbia Men's Might and Right Rain Jacket in Blue/Navy, Gray/Graphite, or Black for $39.99. Opt for ship to store pickup to dodge the $8.95 shipping fee. That's tied with last month's mention, $20 off, and the lowest price we could find. It's available in sizes S to XXL, although not in all size/color combinations.
Update: Coupon code "JCP10" now cuts the price to $35.99.