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The component of hemoglobin that binds oxygen is the iron found in the heme group. Each heme group contains an iron atom at its center, which has the unique ability to form reversible bonds with oxygen molecules. When hemoglobin is oxygenated, the iron atom in the heme group binds with oxygen in the lungs, allowing it to be transported through the bloodstream to tissues and organs where it's needed. This binding is essential for efficient oxygen delivery, as the iron’s oxidation state changes when it binds to oxygen, facilitating this process.

While globin chains, which are the protein components of hemoglobin, play a crucial role in the overall structure and function of hemoglobin, they do not directly bind oxygen. Similarly, the lipid layer and amino acids have no direct involvement in oxygen binding; the lipid layer is not a structural component of hemoglobin, and amino acids contribute to the protein's structure and interactions but do not interact with oxygen directly. Thus, the correct answer highlights the specific role of iron within the heme group in carrying out the vital function of oxygen transport in the body.

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