(5 points) During 2023, TruLight Co. constructed a large warehouse for $270,690,000. Weighted average expenditures...
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(5 points) During 2023, TruLight Co. constructed a large warehouse for $270,690,000. Weighted average expenditures for the project were $36,092,000. To help pay for the project, TruLight Co. took out a 6% construction loan for $28,870,000. TruLight Co.'s only other outstanding debt was a note payable of $108,300,000 with a 5% interest rate. How much interest expense should TruLight Co. recognize in 2023? (A 24)
$5,053,900
$2,093,300
$7,147,200
$1,876,820
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