76. Ace Auto Imports in Albany, NY purchases 3 Rolls Royce cars from Everything British Auto Dealers in London, England. The invoice, prepared for the sale and shipment of these goods, lists the total price paid or payable as 300,000 British Pounds. The cars were shipped by vessel from Liverpool, England on May 3, 2016 and arrived in Newark, New Jersey on May 10, 2016. The certified rate for the pound on May 3, 2016 was US$ 1.35. The certified rate for the pound on May 10, 2016 was US$ 1.40. The value to be declared for entry purposes would be:
A. $300,000
B. $222,222
C. $420,000
D. $405,000
E. $214,285
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The Answer is: D
Citation: 19CFR 159.32 and 19CFR 152.1 (c)
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