Problem $7-10($Static$)$ The data in the table below represent time study observations for a woodworking operation. OBSERVATIONS $($minutes per cycle$)34$ Element $123$ Performance Rating $110\%1151051\mathrm{.}161\mathrm{.}2211\mathrm{.}200\mathrm{.}830\mathrm{.}5821\mathrm{.}170\mathrm{.}870\mathrm{.}5351\mathrm{.}240\mathrm{.}850\mathrm{.}6061\mathrm{.}15----0\mathrm{.}540\mathrm{.}780\mathrm{.}520\mathrm{.}820\mathrm{.}59$ Click here for the Excel Data File a$.$ Based on the observations, determine the standard time for the operation, assuming an allowance of $15$ percent of job time. $($Round your intermediate calculations and final answers to $3$ decimal places.$)$ Standard time Element $123$