During 2020, Maria Building Company constructed various assets at a total cost of $12,600,000. The...
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During 2020, Maria Building Company constructed various assets at a total cost of $12,600,000. The weighted average accumulated expenditures on assets qualifying for capitalization of interest during 2020 were $8.201,000. The company had the following debt outstanding at December 31, 2020: 10%, 5-year note to finance construction of various assets, cated January 1, 2020, with interest payable $5,436,000 annually on January 1 12%, ten-year bonds issued at par on December 31, 2014, with interest payable annually on December 31 5,873.000 9%, 3-year note payable, dated January 1, 2019, with interest payable annually on January 1 1. 2 2.936,500 3. Compute the amounts of each of the following. 1. Avoidable interest 2. Total interest to be capitalized during 2020 $
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