he will reduce his component lot sizes. He has developed the following data for one component, the safety chain clip:

Setup labor cost $$30$ per hour

Annual holding cost $$13$ per unit

Daily production $992$ units$/8$ hour day

Annual demand $,37,440(260$ days each $$ daily demand of $144$ units$)$

Desired lot size $,124$ units $($one hour of production$)$

To obtain the desired lot size, the set$-$up time that should be achieved $=$ minutes $($round your response to two decimal places$).$