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Usually this is the key lock solenoid making noise. Usually over time the solenoid begins to click louder with age. It's mounted on the steering column so it's not surprising you would hear it coming from there. it could also be the shift lock solenoid although normally that will be mounted behind the dash. It's not uncommon at all and rarely indicates an issue. I don't have pricing for either part, but the labor to replace either is roughly .5 hours.
To be 100% honest, other then it being an annoyance, it's not really any indication of a problem.
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