Please explain the solution to this general accounting problem with accurate principles.

Tech Solutions Inc. is deciding whether to continue making a component or to buy it from an outside supplier. The company uses 15,000 of the components each year. The unit product cost of the component according to the company's cost accounting system is as follows: Variable manufacturing overhead|$1.80 Fixed manufacturing overhead [$4.20 Assume that direct labor is a variable cost. Of the fixed manufacturing overhead, 20% is avoidable if the component were bought from the outside supplier. In addition, making the component uses 4 minutes on the machine that is the company's current constraint. If the component were bought, this machine time would be freed up for use on another product that requires 8 minutes on this machine and has a contribution margin of $6.00 per unit. When deciding whether to make or buy the component, what cost of making the component should be compared to the price of buying the component? (Round your intermediate calculations and final answer to 2 decimal places.)