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4. During a shopping spree in Hong Kong, C. Dundee has bought a Sony CD boom box (with woofers and tweeters) for HKD 2,000 ,

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4. During a shopping spree in Hong Kong, C. Dundee has bought a Sony CD boom box (with woofers and tweeters) for HKD 2,000 , jade jewelry for HKD 4,000, and four custom-made suits for HKD 25,000. The spot exchange rate is HKD/AUD 5. (a) If CPP held, what should the same boom box, jewelry, and suits cost in Australia? (b) Suppose Mr Dundee is (unexpectedly) stopped at customs as he arrives in Melbourne and must pay import duties of 20 percent. If the same boom box, jewelry, and suits cost AUD 4S0, AUD 1,500, and AUD 8,000 in Australia, respectively, was his shopping spree worth at least the HKD 10,000 paid for airfare and hotels during his trip

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