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Current Attempt in Progress Pronghorn Company is constructing a building Construction began on February 1...

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Accounting

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Current Attempt in Progress Pronghorn Company is constructing a building Construction began on February 1 and was completed un December 31. Expenditures were $2,016,000cn March 1, $1,296,000 on June 1 , and $3,041,650 on December 31 . Pronghom Company borrawed $1,115,400 on March 1 on a 5-vear, 13% note to help finance construction of the building in addition, the company had outstanding all year a 96,5 -year, $2,469,300 note payable and an 1066,4 year, $3,155,500 note payable. Compute the Weighted-average interist rateused for interest cipitalization purposes. (Round answer to 2 dacinal places, es 7.58\%) Weighted-average interest rate %

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