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Total cost to saudi arabian importer in saudi arabian riyal

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Question: Middle East Exports. Oriol Díez 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 €425,000. Jordan imposes a 13% import duty on all products purchased fromthe European Union. The Jordanian importer then re-exports the product to a Saudi Arabian importer, but only after imposing their 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?

Currency Crossrate                                              Spot Rate

Jordanian dinar (JD) per euro (€)                            JD 0.96/€

Jordanian dinar (JD) per U.S. dollar ($)                    JD 0.711/$

Saudi Arabian riyal (SRI) per U.S. dollar ($)              SRI 3.751/$

Reference no: EM131690605

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