A company constructs a building for its own use. Construction began on January 1 and ended on December 30. The expenditures for construction were as follows: January 1, $570,000; March 31, $670,000; June 30, $470,000; October 30, $810,000. The company arranged a 10% loan on January 1 for $840,000. Assume the $840,000 loan is not specifically tied to the construction of the building. The company's other borrowings, outstanding for the whole year, consisted of a $4 million loan and a $6 million note with interest rates of 14% and 10%, respectively. Assuming the company uses the weighted-average method, calculate the amount of interest capitalized for the year. Note: Enter your answers in whole dollars and not in millions. Do not round intermediate calculations. Round your percentage answers to 2 decimal places (i.e. 0.1234 should be entered as 12.34%). Date January 1 March 31 June 30 October 30 Accumulated expenditures Average accumulated expenditures Expenditure $ $ Amount X 0 X X X 0 Weight Interest Rate 11 % % Average = = $ = Capitalized Interest GA $ EA 0 0

A company constructs a building for its own use. Construction began on January 1 and ended on December 30 . The expenotures for construction were as follows: January 1,$570,000; March 31,$670,000; June 30, $470,000; October 30, $810,000. The company arranged a 10% loan on January 1 for $840,000. Assume the $840,000 loan is not specificalily tied to the construction of the bulling The company's other borrowings, outstanding for the whole year, consisted of a $4 milition loan and a $6 milition note with interest rates of 14% and 10%, respectively. Assuming the company uses the weighted-average method, calculate the amount of interest capitalized for the year- Note: Enter your answers in whole dollars and not in millions. Do not round intermediate calculations. Round your percentag. answers to 2 decimal places (i.e. 0.1234 should be entered as 12.34% )