Kingbird Company is constructing a building. Construction began on February 1 and was completed on...
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Kingbird Company is constructing a building. Construction began on February 1 and was completed on December 31 . Expenditures were $2,040,000 on March 1,$1,320,000 on June 1, and $3,045,000 on December 31 . Kingbird Company borrowed \$1,026,000 on March 1 on a 5-year, 12% note to help finance construction of the bullding In addition. the company had outstanding all year a 10\%, 5 -year, $2,085,000 note payable and an 11%,4 year, $3,796,000 note payable. Compute avoldable interest for Kingbird Company. Use the weighted-average interest rate for interest capitalization purposes. (Round weighted. averuge interest rate to 4 decimal ploces, e.8. 0.2152 and final answer to Odecimal ploces, e. 5,275 ) Avoidableinterest
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