PA $10-18($Algo$)$ A local bookstore turns over its inventory once...

A local bookstore turns over its inventory once every four months. The bookstore's annual cost of holding inventory is $38$ percent.

What is the inventory holding cost $($in $ s$)$ for a book that the bookstore purchases for $$12$ and sells for $$20?$

Note: Round your answer to $2$ decimal places.

Inventory holding cost

per book