Question: EOD Corporation borrowed $ 4 0 0 , 0 0 0 on December 1 , 2 0 1 8 , to finance construction of a

EOD Corporation borrowed $400,000 on December 1,2018, to finance construction of a new office building. The interest rate on the loan was 10%. Construction began on January 1,2019, and the building was completed in March 2020. The following payments were made in 2019 related to the building project:
January 1Purchased the land$80,000March 1Made progress payment to contractor120,000July 1Made progress payment to contractor108,000December 1Made progress payment to contractor72,000
How much of the interest should be expensed?

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