Given the following information about a product, at Michael Gibson's firm, what is the appropriate setup time?

Setup labor cost $$40\mathrm{.}00$

per hour

Annual holding cost $$10$

per unit

Daily production $1,000$

units$/$day

Annual demand $39,000$

$(260$

days

each$\backslash$times daily

demand of

$150$

units$)$

Desired lot size $150$

units

Setup time $=$

minutes $($round your response to two decimal places$).$