Assignment Eight Problem One: Problem 9-1A on page 466, ignoring GST. In addition to completing the instruction in the text, add the following: a) Prior to construction, the business borrowed $800,000 to finance the cost. The loan was for 5 years. During construction, interest was incurred in the amount of $60,000. Construction was completed after a year; thereafter, $160,000 of additional interest was incurred until the loan was paid off. Describe the accounting treatment for the $220,000 of interest, i.e., all expensed, all capitalised, some expensed and some capitalised? Explain your conclusion. b) Assuming that you treated item #3 differently from item #7, explain why