Question: answer Riverbed Ltd. is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were HK $2,232,000 on March 1,

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Riverbed Ltd. is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were HK $2,232,000 on March 1, HK\$1,488,000 on June 1, and HK $2,532,000 on December 31. Riverbed Ltd, had outstanding all year a 12\%, 5-year, HK $4,960,000 note payable and an 13%,4 year, HK $4,340,000 note payable. Compute the capitalization rate used for borrowing cost capitalization purposes. (Round answer to 2 decimal places, e.8. 7.58\%.) Capitalization rate 96

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