Please calculate the amount of customs duty paid for the import of goods in the following scenario Al Mdina Traders based in Shrjah mainland area imported 100 mobile phones from China. The transaction value of goods ("Cost") is AED 2,000 per each mobile phone. The "Insurance paid is 1% on the cost of goods and the "Freight paid is 2% based on the cost of goods. Keeping in view the rate of customis duty is 5%, please calculate the customs duty paid by Al Madina Traders to Sharjah Customs Authority? Hint: The Incoterms used for the Customs declaration purposes = CIF (Cost Insurance Freight)