Question: 8. Ole Inc. began constructing a building for its own use in January 2015. During 2015 Ole incurred interest of $72,000 on specific construction debt,

8. Ole Inc. began constructing a building for its own use in January 2015. During 2015 Ole incurred interest of $72,000 on specific construction debt, and $28,800 on other borrowings. Interest computed on the weighted average amount of accumulated expenditures for the building during 2015 was $57,600. What is the amount of interest cost that Ole should capitalize?

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