Question: Harbor Co. began constructing a building for its own use in January of the current year. During the current year, Harbor incurred interest of $40,000

Harbor Co. began constructing a building for its own use in January of the current year. During the current year, Harbor incurred interest of $40,000 on specific construction debt, and $20,000 on other borrowings. Interest computed on the weighted average amount of accumulated expenditures for the building during the current year was $80,000. What amount of interest cost should Harbor capitalize? Select one: O a $20,000 O b. $40,000 OC $60,000 Od $80,000 O e $140,000

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