Bonita Company is constructing a building. Construction began on February 1 and was completed on...
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Bonita Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,884,000 on March 1, 51,284,000 on June 1, and $3,091,100 on December 31 Bonita Company borrowed $1,174,200 on March 1 on a 5 year, 13% note to help finance construction of the building. In addition, the company had outstanding all year a 10% 5-year, $2,379,800 note payable and an 11% 4-year, $3,616 400 note payable. Compute avoidable interest or Bonita Company. Use the weighted average interest rate or interest capita za on r ses Roumdpercentages to 2 de ma places e.g. 2.51% and final answer to 0 decimal places, e.g. 5,275.) Avoidable interest
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