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EMERGENCYY??????? 1)Discuss in detail the purpose and use of 5 US customs bonds(15 marks each, 75 Marks) 2.) 1000 cell phones made in China, valuedUSD120000.00

EMERGENCYY???????

1)Discuss in detail the purpose and use of 5 US customs bonds(15 marks each, 75 Marks)

2.) 1000 cell phones made in China, valuedUSD120000.00 was exported from Canada to the UnitedStates by ocean. Calculate what fee or fees is payable to US Customs, if theimport duty rate is 8.5%.(Show all calculations for full marks - 25 Marks)

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