A manufacturing company producing medical devices reported $108,000,000 in sales over the last year. At the end of the same year, the company had $42,000,000 worth of inventory of ready-to-ship devices.

a. Assuming that units in inventory are valued (based on COGS) at $2,000 per unit and are sold for $4,000 per unit, what are the annual inventory turns? The company uses a 20 percent per year cost of inventory. That is, for the hypothetical case that one unit of $2,000 would sit exactly one year in inventory, the company charges its operations division a $400 inventory cost. (Round the answer to 2 decimal places.)