The time to remove a square insert and index it to another new corner is 2 min, tool-life equation is VT^0.15 = 500, V = 300 fpm, Co = $l per min, L = 8.5 in., D = 8.6 in., and f = 0.02 ipr. What is the cost to change tools? Using the information in the previous question, and that an eight-corner insert for rough turning of cast iron is $24, find the tool cost per operation.