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Barcelona Exports. 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
Barcelona Exports. 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 429,000. 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.) Spot Rate 0.964 Currency Crossrate Jordanian dinar (JD) per euro () Jordanian dinar (JD) per U.S. dollar ($) Saudi Arabian riyal (SRI) per U.S. dollar ($) 0.719 3.794 The spot rate, Saudi Arabian riyal per Jordanian dinar is SRI IJD. (Round to five decimal places.)
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