Carol Cagle has a repetitive manufacturing plant producing trailer hitches in Arlington, Texas. The plant has an average inventory turnover of only 12 times per year. He has therefore determined that he will reduce his component lot sizes. He has developed the following data for one component, the safety chain clip: Setup labor cost $20 per hour Annual holding cost Daily production Annual demand Desired lot size $14 per unit 976 units/8 hour day 24,840 (270 days each x daily demand of 92 units) 122 units (one hour of production) To obtain the desired lot size, the set-up time that should be achieved = response to two decimal places). minutes (round your