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Assume the following for a company subject to IFRS: Borrow date January 1, 2009 Amount...

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Accounting

Assume the following for a company subject to IFRS: Borrow date January 1, 2009 Amount borrowed 600 million Euro Annual interest rate 10 percent Term of loan 3 years Payment method Annual payment of interest, balloon payment for principal at end of term The construction took two years, during which time the company earned 10 million euro by temporarily investing the loan proceeds. Which of the following is the amount of interest related to the plan construction that can be capitalized on the balance sheet?

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