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 $$16$ per unit

Daily production $,976$ units$/8$ hour day

Annual demand $,24,840(270$ days each $$ daily demand of $92$ units$)$

Desired lot size $122$ units $($one hour of production$)$

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