You are importing ladies cotton sweaters from Italy. The FOB Naples contract price is $20.00/pc. International ocean freight is $1.00 and commission due to the buyer’s agent is $1.00/pc. The rate of duty on ladies cotton sweaters is 10%. The dollar amount of duty is: (a) $2.00 (b) $2.10 (c) $1.90 (d) $2.20
You are importing ladies cotton sweaters from Italy. The FOB Naples contract price is $20.00/pc. International ocean freight is $1.00 and commission due to the buyer’s agent is $1.00/pc. The rate of duty on ladies cotton sweaters is 10%. The dollar amount of duty is: (a) $2.00 (b) $2.10 (c) $1.90 (d) $2.20
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
You are importing ladies cotton sweaters from Italy. The FOB Naples contract
(a) $2.00
(b) $2.10
(c) $1.90
(d) $2.20
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