Paccar Winch makes components for its different production lines. The firm operates its production facility 320 days per year. It has orders from about 12,000 winch components per year and has the capability of producing 105 per day. Setting up the winch production costs $50. The cost of each winch component is $1.20. The holding cost is $0.10 per winch component per year. The annual holding costs per year is $______ (round to two decimals)