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A bicycle manufacturer purchases bicycle seats from an outside supplier for $22 each. The manufacturer's inventory of seats turns over 1.1 times per month,

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A bicycle manufacturer purchases bicycle seats from an outside supplier for $22 each. The manufacturer's inventory of seats turns over 1.1 times per month, and the manufacturer has an annual inventory holding cost of 35 percent. (Round your answer to 2 decimal places.) What is the inventory holding cost (in S) for a bicycle seat? per seat

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