A shipment is invoiced at $100,000. The price for the merchandise includes international shipment costs, insurance costs, customs duties, and other federal taxes. The ocean freight paid is $6,000, the insurance paid is $850, the Duty rate is 6.5%, and a Harbour Maintenance Fee and Merchandise Processing Fee are paid at .125% and .3463%, respectively. What is the Transaction Value of the shipment?
A) 93150
B) 87079.35
C) 93482.93
D) 100000
E) 92712.95
[bg_collapse view=”button-green” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer and Citation” collapse_text=”Hide Answer and Citation” ]
The Answer is: B
Citation: 19 USC 1401a(b)(4)(A), 19 CFR 152.102(f), 19 USC 1401a(b)(3)(B),
19 CFR 152.103(i)(2))
[/bg_collapse]