16. Chepkurui imports rice from the United States at an initial cost of 500US Dollars per tonne. He then pays 20% of this amount as shipping costs and 10% of the same amount as custom duty. When the
rice reaches Mombasa he has to pay 5% of the initial cost to transport it to Nairobi.
(a) Given that on the day of this transaction the exchange rate was IUS Dollar = Ksh 76.60, calculate
the total cost of importing one tonne of rice up to Nairobi in Kenya shilings​