Question: I am having problems getting the last half of this problem. Please see attachment. Can you help with what I am doing wrong. Carver Department
I am having problems getting the last half of this problem. Please see attachment. Can you help with what I am doing wrong. Carver Department Stores, Inc., constructs its own stores. In the past, no cost has been added to the asset value for interest on funds borrowed for construction. Management has decided to correct its policy and desires to include interest as part of the cost of a new store just being completed.
1. Based on the given information, how much interest would be added to the cost of the store in 2013? If required, round capitalized interest percentages to one decimal place. Round dollar amount calculations and your final answer to the nearest whole dollar.
Based on the given information, how much interest would be added to the cost of the store in 2014? If required, round capitalized interest percentages to one decimal place. Round dollar amount calculations and your final answer to the nearest whole dollar.
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