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  3. on june 1, 2023, a company began construction of a

On June 1, 2023, a company began construction of a new manufacturing plant. The plant...

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Accounting

imageimage On June 1, 2023, a company began construction of a new manufacturing plant. The plant was completed on October 31 , 2024. Expenditures on the project were as follows (\$ in millions): On July 1, 2023, the company obtained a $88 million construction loan with a 10% interest rate. The loan was outstanding through the end oftober, 2024. The company's only other interest-bearing debt was a long-term note for $100 million with an interest rate of 9%. This note was outstanding durin all of 2023 and 2024. The company's fiscal year-end is December 31. In computing the capitalized interest for 2024 , the average accumulated expenditures are: $165.30 million. \$146.54 million. \$89.30 million. \$167.25 million

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