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Default Calculate and Format Time

I am trying to calculate time and I am not sure if I have them listed in the
appropriate format. I need them in a minute and second format. I want to
add up the following and get the total in a minute and second format as well
then in another cell I want to multiple the total minutes by 3.

12:12
13:02
11:03
12:03
23:23
12:34

 
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