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Liddy Corp. began construction of a new warehouse for its operations during the current year. For the year, Liddy incurred interest of $20,000 on a

Liddy Corp. began construction of a new warehouse for its operations during the current year. For the year, Liddy incurred interest of $20,000 on a working capital loan and interest on a construction loan for the $70,000 warehouse. Interest calculated on average accrued expenses for the construction of the warehouse was $50,000. How much interest must Liddy spend for the year?

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