CBA, an importer of wearing apparel, enters into a contract with ZYX, a Korean manufacturer. ZYX will produce 1,000 dozen women’s suit jackets for $120,000, CIF New York. The jackets will be imported on one entry. The freight is $7,000 and the insurance is $1,000. CBA will supply ZYX with wool fabric valued at $50,000. The fabric is produced in the U.S and will cost $1,000 to transport the fabric to ZYX. CBA comes to you, his broker, to discuss this matter. Which ONE of the following amounts is the correct appraised value?
A) 112000
B) 162000
C) 163000
D) 119000
E) 170000
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The Answer is: C
Citation: 19 CFR 152.103(c)(2)
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