Short Answer
Kevin lives in Calgary and wants to buy a 2012 Corvette. The best price he can find for a low-mileage model in Alberta is $61,495. (No GST would be payable on this private sale.) Through autotrader.com he tracked down a comparable car in California that he can purchase for US$54,968. To bring the car into Canada, he will have to pay 5% GST on the purchase price at Canada Customs. Additional costs will be C$387 for airfare to San Diego, US$350 in special transaction and documentation costs, and US$550 in travel and accommodation costs while driving the vehicle back to Calgary. How much will he save (in C$) by buying the Corvette in California?
Correct Answer:
Verified
Correct Answer:
Verified
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