1. Using the information above, the average accumulated expenditures for 2022 would be? (round to closest whole dollars with no dollar sign but include commas) 

2.Using the information above, if the specific interest approach is used the amount of interest capitalized for 2022 should be? (use whole dollars with no dollar sign but include commas)

3. Using the information above, if the specific interest approach is used the total cost capitalized for the building for 2022 would be? (round to closest whole dollars with no dollar sign but include commas). 

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Construction began on January 1, 2022 and the building was completed on June 30, 2023. January 1, 2022 March 31, 2022 $1,500,000 $1,000,000 January 1, 2023 $3,000,000 Building complete June 30, 2023 There was a construction loan taken out for the project in the amount of $4,000,000. The loan requires 5% annual interest. ALMO also had other debt throughout the life of the project totaling $5,000,000 with an interest rate of 4%. Construction began on January 1, 2022 and the building was completed on June 30, 2023. January 1, 2022 March 31, 2022 $1,500,000 $1,000,000 January 1, 2023 $3,000,000 Building complete June 30, 2023 There was a construction loan taken out for the project in the amount of $4,000,000. The loan requires 5% annual interest. ALMO also had other debt throughout the life of the project totaling $5,000,000 with an interest rate of 4%.

Answer rating: 100% (QA)

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