Company A imported seven ball bearings with integral shafts from Germany, which are classified under subheading 8482.10.10, Harmonized Tariff Schedule of the United States, at a 2.4% ad valorem duty rate and are subject to antidumping duties. The ball bearings are shipped by air and formally entered at Chicago O’Hare International Airport. The total value of the shipment is $9,875.00. The applicable antidumping duty cash deposit rate is 86.98%. What are the total amount of fees and estimated duties that should be reported on CBP Form 7501?
A. $271.21
B. 8589.28
C. 8623.49
D. $8826.28
E. 8860.49
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The Answer is: E
Citation: $9875. X 2.4% duty = 237.00 – $9875. X .3464% mpf = 34.21 – 9875. X 237.00 duty + 34.21 mpf + 8589.28 ADD = total duties and fees of $8860.49.
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