On January 1,2024, the Shagri Company began construction on a new manufacturing facility for its...

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Accounting

On January 1,2024, the Shagri Company began construction on a new manufacturing facility for its own use. The building was completed in 2025. The only interest-bearing debt the company had outstanding during 2024 was long-term bonds with a book value of $11,800,000 and an effective interest rate of 7%. Construction expenditures incurred during 2024 were as follows:
\table[[January 1,$680,000
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