Multiple Choice Question 75 During 2017, Sheffield Corp. incurred weighted-average accumulated expenditures of $1610000 during...
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Multiple Choice Question 75 During 2017, Sheffield Corp. incurred weighted-average accumulated expenditures of $1610000 during construction of assets that qualified for capitalization of interest. The only debt outstanding during 2017 was a $2030000, 10%, 5-year note payable dated January 1, 2017. What is the amount of interest that should be capitalized by Sheffield during 2017?
A$161000
.B $0.
C $42000.
D $203000.
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