Business, 18.12.2019 01:31 Pranav2004

In january of 2021, the mateo company began construction of its own storage facility. during 2021, $13,000,000 in construction costs were incurred as follows: january 1, $2,000,000; march 31, $4,000,000; june 30, $4,000,000; october 31, $3,000,000. mateo took out a $4,000,000, 10% construction loan at the beginning of the year. the company had $20,000,000 in other interest-bearing debt with a weighted-average interest rate of 8%. the facility was completed early in 2022. what amount of interest should be capitalize in 2021 using the specific interest method?

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In january of 2021, the mateo company began construction of its own storage facility. during 2021, $...

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