Problem 2-13 (algorithmic)

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Barcelona Machine Tools. Oriol D'ez Miguel S.R.L., a manufacturer of heavy duty machine tools near Barcelona, ships an order to a buyer in Jordan. The purchase price is

422,000. Jordan imposes a 14% import duty on all products purchased from the European Union. The Jordanian importer then re-exports the product to a Saudi Arabian importer, but only after imposing its own resale fee of 28%.

Given the following spot exchange rates on April 11, 2010, what is the total cost to the Saudi Arabian importer in Saudi Arabian riyal, and what is the U.S. dollar equivalent of that price?(Click on the

icon to import the table into a spreadsheet.)

Currency Crossrate	Spot Rate
Jordanian dinar (JD) per euro ()	0.963
Jordanian dinar (JD) per U.S. dollar ($)	0.705
Saudi Arabian riyal (SRI) per U.S. dollar ($)	3.747

The spot rate, Saudi Arabian riyal per Jordanian dinar is SRI

__/JD.

(Round to five decimal places.)