Brief Exercise 10-3 Splish Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,824,000 on March 1, $1,224,000 on June 1, and $3,030,540 on December 31 Splish Company borrowed $1,082,950 on March 1 on a construction of the building. In addition, the company had outstanding all year a 9%, 5-year, $2,046,800 note payable and an 10%, 4-year, $3,555,500 note payable. Compute the weighted- average interest rate used for interest capitalization purposes. (Round answer to 2 decimal places, e.g. 7.58%.) 5-year, 12% note to help finance Weighted-average interest rate