High Deals is an e-commerce company based in Seattle, Washington. In 2020, the company's revenue was $4,300,000 and its cost of goods sold was $3,200,000. Assume 52 weeks and 365 days per year. Assume that the annual inventory holding cost for High Deals is 40%.

What is the inventory holding cost (in $) of an item that costs High Deals $20 and is sold to their customers at $30? (Round you answer to two decimal places)