Problem: Ricardo is buying electrical modules for his company based in Florida. He is purchasing 60,000 modules per year in 12 equal monthly shipments from Thailand at a quoted unit price of $19.50 each. For each shipment, Ricardo must purchase Marine Insurance at $0.50 per $100 of shipment. Shipment valuation is based on quoted unit price. How much are the insurance costs per shipment? Group of answer choices $550 $487.50 $0.50 $1950 $50