Your firm has contracted to build the new Trevecca Arena for $ million. You signed the deal on January Your plans are to spend a total of $ million over the next two years. You borrowed $ million from the Runyan Bank on January specifically for this project with annual interest. Your fiscal yearend is December You finished the job early on November
In addition to the $ million borrowed for this project your firm also had the following debt:
$ million at outstanding for the entire year
$ million at outstanding for the entire year
You had the following outlays of cash related to this job during
January $ March $ July $ December $
Calculate the amount of interest that should be capitalized for Circle your answer.
