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On January 1, 2021, the Marlee Company began construction of an office building to be...

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Accounting

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On January 1, 2021, the Marlee Company began construction of an office building to be used as its corporate headquarters. The building was completed early in 2022. Construction expenditures for 2021, which were incurred evenly throughout the year, totaled 55.100.000 Mawjee had the following debt obligations which were outstanding during all of 2020 Construction loan, 135 Longteremte, 125 Long-tere note, 1,275,000 1.700,000 Required: Calculate the amount of interest capitalized in 2021 for the building using the specific terest method

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