Do not log into Canvas in more than one tab or browser while taking the exam. 10 Ra 1 Use the scenarios described below to answer this question. Surley is an American bicycle company that gets some of the parts from abroad. Scenario 1: For similar bicycles sold on the world market, the free trade price is $1,520. Many of the parts used to make the bicycle are imported. The cost of imported parts is $432. A tariff of $172 is imposed on imported bicycles. Scenario 2: There is a tariff of $80 imposed on imported inputs used to make bicycles. Question: What is the effective rate of protection on bicycles for Scenario 1? Enter your number as a percentage (for 1%, you would enter "1" but not "0.01") rounded to 2 decimal places. 15 5 2