Company A, based in the United States, sells and rents high end sports cars. In 2015, Company A imported an Italian sports car from Italy and paid all applicable duties and taxes. In 2020, Company A leased the car to a client in China and exported it to him. The car did not meet the specifications agreed upon in the contract; however, the client continued to drive it for the remainder of the lease. The sports car was not subjected to any repairs or alterations while in China. In 2024, Company A then reimported the car into the United States. What statement is correct upon reimportation into the United States?
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