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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

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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

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