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E Ch 10: Homework - PDR Updated Question 13 of 13 -/1 View Policies Current...

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Accounting

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E Ch 10: Homework - PDR Updated Question 13 of 13 -/1 View Policies Current Attempt in Progress Nash Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,980,000 on March 1, $1,320,000 on June 1, and $3,300,000 on December 31. Nash Company borrowed $1,100,000 on March 1 on a 5-year 10% note to help finance construction of the building. In addition, the company had outstanding all year a 12%. 5-year $2,200,000 note payable and an 11%, 4-year $3,850,000 note payable. Compute avoidable interest for Nash Company Use the weighted average interest rate for interest capitalization purposes. (Round "Weighted average interest rate" to 4 decimal places, .8.0.2152 and final answer to O decimal places, e.g. 5,275.) Avoidable interest $

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