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ABC Music Co. Inc., imports professional musical instruments from England on commercial Invoice #ACB123. The value of the equipment is US$ 147165.75: Exchange rate is

  1. ABC Music Co. Inc., imports professional musical instruments from England on commercial Invoice #ACB123. The value of the equipment is US$ 147165.75: Exchange rate is 1.28951, the duty rate is 8.5%, and regular GST. The imported instruments are not for sale, it was imported for testing and demonstration ONLY. The musical will remain in Canada for 6 months after which it will be exported out of Canada. Calculate how much Duty and GST does ABC Co. owes to CBSA for this shipment. Show all calculation for full marks (50 marks)

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