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

$$$$30$ per hour

Annual holding cost

$$$$16$ per unit

Daily production

$1,008$units$/8$ hour day

Annual demand

$43,680(260$ days each$\backslash$times daily demand of $168$units$)$

Desired lot size

$126$ units$($one hour of$$ production$)$

Part $2$

To obtain the desired lot$$ size, the$$ set$-$up time that should be achieved$=$ enter your response here minutes $($round your response to two decimal$$ places$).$