A package with measurement 2m x 4m x 5m belonging to Mr. Halsworth Andy was imported on February 08, 2022, by Air Freight and lodged in the Queens Warehouse 230 after the prescribed period. The package is to be auctioned on December 19, 2022, and after research you have determined that cost is USS 2600, which was checked using the internet. The Airfreight Charge USS 550, the Import Duty 20%, GCT 15%, Stamp 20 % Excess 10% and insurance US$125. Given a rate of exchange of $152.55 Jamaican dollars to one United States dollar, what is the Reserve Price?

Answer rating: 100% (QA)

To calculate the reserve price of the package we need to consider the cost airfreight charge import ... View the full answer