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Company produces a component that requires 2 hours of machining time at a cost of $15 per hour. By redesigning the component, the machine hours

Company produces a component that requires 2 hours of machining time at a cost of $15 per hour. By redesigning the component, the machine hours can be reduced by 15 minutes with no reduction in the quality of functionality of the component. Determine the nonvalue-added cost per unit of the component for the machining activity. Note: Give your answer using dollar signs, commas, and decimal points (cents). Example: $123.45

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