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During 2020, Kimmel Co. incurred welghted average accumulated expenditures of $1,600,000 during construction of assets...

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Accounting

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During 2020, Kimmel Co. incurred welghted average accumulated expenditures of $1,600,000 during construction of assets that qualified for capitalization of interest. The only debt outstanding during 2020 was a $2,000,000, 10%, 5-year note payable dated January 1, 2020. What is the amount of interest that should be capitalized by Kimmel during 20202 @ $200.000 O $160,000 $0 $40,000

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