During 2020, Crane Company incurred weighted-average accumulated expenditures of $1640000 during construction of assets that...
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Accounting
During 2020, Crane Company incurred weighted-average accumulated expenditures of $1640000 during construction of assets that qualified for capitalization of interest. The only debt outstanding during 2020 was a $2020000, 9%, 5-year note payable dated January 1, 2020. What is the amount of interest that should be capitalized by Crane during 2020? $147600. $34200. $0. $181800.
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