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A coffee contract: Selling price is 815 USD/MT, FOB Cat Lai port, Incoterms 2010. The shipping charge is 12 USD/MT, premium rate is 0.03, expected

A coffee contract: Selling price is 815 USD/MT, FOB Cat Lai port, Incoterms 2010. The shipping charge is 12 USD/MT, premium rate is 0.03, expected rate is 1016. What is the CIF rate? CIF = (FOB + F)/(1- 1.1R) = (815 + 12)/(1- 1.1*0.03) = $855.22 MT

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