(Answered) Suppose that lebanon has placed tariffs on its imports and

Finance

Suppose that Lebanon has placed tariffs on its imports and exports. The import tariff is 13%, and the export tariff is 8%. If Lebanon has a balance of trade of (equivalent US dollars) $5,510,000 and received tariff revenue of $4,019,200, what are its imports and exports worth?

a. $30,916,923 in imports, $50,240,000 in exports

b. $17,040,000 in imports, $22,550,000 in exports

c. $6,226,300 in imports, $5,950,800 in exports

d. $4,793,700 in imports, $5,069,200 in exports

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