Blossom Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,064,000 on March 1, $1,212,000 on June 1, and $3,017,000 on December 31. Blossom Company borrowed $1,158,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 5-year, $2,118,000 note payable and an 11%, 4-year, $3,544,000 note payable. Compute avoidable interest for Blossom Company. Use the weighted-average interest rate for interest capitalization purposes. (Round weighted-average interest rate to 4 decimal places, e.g. 0.2152 and final answer to 0 decimal places, e.g. 5,275.) Avoidable interest $
Blossom Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,064,000 on March 1, $1,212,000 on June 1 , and $3,017,000 on December 31 . Blossom Company borrowed $1,158,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%,5-year, $2,118,000 note payable and an 11%,4-year, $3,544,000 note payable. Compute avoidable interest for Blossom Company. Use the weighted-average interest rate for interest capitalization purposes. (Round weighted-averoge interest rate to 4 decimal places, e.g. 0.2152 and final answer to 0 decimal places, e.g. 5,275.) Avoidable interest $ 
