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poods are to be insured at 110% CIP value. Total invoice value for the goods is US $26.000.00 The total ocean froight ic LUS $G 000 0O

poods are to be insured at 110% CIP value. Total invoice value for the goods is US $26.000.00 The total ocean froight ic LUS $G 000 0O

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Goods are to be insured at 110% CIP value. Total invoice value for the goods is US $26,000.00. The total ocean freight is US $6,000.00. Canadian inland charges and handling total is US $750.00. Marine insurance rate is 0.35%. What will be the insurance premium paid for this cargo? Select one answer. O US $126.53 O US $126.99 O US $127.95 O US $128.89
Transcribed Image Text:Goods are to be insured at 110% CIP value. Total invoice value for the goods is US $26,000.00. The total ocean freight is US $6,000.00. Canadian inland charges and handling total is US $750.00. Marine insurance rate is 0.35%. What will be the insurance premium paid for this cargo? Select one answer. O US $126.53 O US $126.99 O US $127.95 O US $128.89
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