X Co constructed a new factory for itself. The costs incurred on the construction project were as

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X Co constructed a new factory for itself. The costs incurred on the construction project were as follows:

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(i) Construction work actually began on 1 February 2024, and a loan of £9m was taken out on the same date specifically to help finance the project. Interest on the loan is payable at a fixed annual rate of 6%. The loan is repayable in full on 31 January 2029.
(ii) Building work was completed on 31 October 2024, at which point the factory was ready for use by X Co.
Required:
Calculate the total capital expenditure in relation to the new factory.

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