Question 32 3.45 pts Koch Industries is constructing a building. Construction...

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Accounting

Question 32
3.45 pts
Koch Industries is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6,400,000 on March 1,$5,280,000 on June 1, and $8,000,000 on December 31. Koch borrowed $3,200,000 on January 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%,3-year, $6,400,000 note payable and an 11%,4-year, $12,000,000 note payable.
How much is the weighted-average accumulated expenditure?
$8,413,333
$19,680,000
$9,840,000
$11,680,000
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