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Metlock Inc. purchased land for $150,000 for a new warehouse site. The company made payments...

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Accounting

Metlock Inc. purchased land for $150,000 for a new warehouse site. The company made payments totaling $1,000,000 to the construction company for the construction of the warehouse. The company incurred actual interest expense of $12,000 and calculated the avoidable interest to be $15,000 for the year. What is the total capitalized cost of the building?

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