Oriole Furniture Company started construction of a combination office and warehouse building for its own...
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Oriole Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $12,500,000 on January 1,2025 . Oriole expected to complete the building by December 31,2025 . Oriole has the following debt obligations outstanding during the construction period. (a) Assume that Oriole completed the office and warehouse building on December 31, 2025, as planned, at a total cost of $13,000,000, and the weighted-average amount of accumulated expenditures was $9,000,000. Compute the avoidable interest on this project. (Use interest rates rounded to 2 decimal places, e.g. 7.58% for computational purposes and round final answers to 0 decimal places, e.g. 5,275.) Avoidable interest $
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