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Default Converting time to number, i.e. 2:32 to 2.32

I'm figuring song royalties based on the length of the song. My songs are
listed in minutes/seconds, such as 2:32. In order to calculate the royalty,
I need the time converted to a number. Multiplying by 24 does not work. I
simply need a song length like 2:32 converted to 2.32. Thank you!
 
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