Please show the calculations. Thank you :) Use the following...
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Please show the calculations. Thank you :)
Use the following information for questions 94 through 97. On January 2, 2015, Indian River Groves began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2016. Expenditures for the construction were as follows: January 2, 2015 $200,000 September 1, 2015 600,000 December 31, 2015 600,000 March 31, 2016 600,000 September 30, 2016 400,000 Indian River Groves borrowed $1,100,000 on a construction loan at 12% interest on January 2, 2015. This loan was outstanding during the construction period. The company also had $4,000,000 in 9% bonds outstanding in 2015 and 2016. 96. What were the weighted-average accumulated expenditures for 2016 by the end of the construction period? a. $390,000 b. $1,635,000 c. $1,986,000 d. $1,386,000
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