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In: Finance
Barcelona Machine Tools. Oriol D'ez Miguel S.R.L., a manufacturer of heavy duty machine tools near Barcelona,...
Barcelona Machine Tools. Oriol D'ez Miguel S.R.L., a manufacturer of heavy duty machine tools near Barcelona, ships an order to a buyer in Jordan. The purchase price is
€426,000.
Jordan imposes a
12%
import duty on all products purchased from the European Union. The Jordanian importer then re-exports the product to a Saudi Arabian importer, but only after imposing its own resale fee of
29%.
Given the following spot exchange rates on April 11, 2010, what is the total cost to the Saudi Arabian importer in Saudi Arabian riyal, and what is the U.S. dollar equivalent of that price? (Click on the
icon to import the table into a spreadsheet.)
|
Currency Crossrate |
Spot Rate |
|
| Jordanian dinar (JD) per euro
(€) |
0.962 |
|
|
Jordanian dinar (JD) per U.S. dollar ($) |
0.718 |
|
|
Saudi Arabian riyal (SRI) per U.S. dollar ($) |
3.731 |
The spot rate, Saudi Arabian riyal per Jordanian dinar is SRI
nothing/JD.
(Round to five decimal places.)
Solutions
Expert Solution
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jeff jeffy answered 1 year agoRelated Solutions
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