Question: I need help Blossom Company is constructing a building. Construction began on February 1 and was completed on December 31 . Expenditures were $2,064,000 on

I need help Blossom Company is constructing a building. Construction began

I need help

Blossom Company is constructing a building. Construction began on February 1 and was completed on December 31 . Expenditures were $2,064,000 on March 1, $1,212,000 on June 1 , and $3,017,000 on December 31 . Blossom Company borrowed $1,158,000 on March 1 on a 5 -year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10\%,5-year, $2,118,000 note payable and an 11%,4-year, $3,544,000 note payable. Compute avoidable interest for Blossom Company. Use the weighted-average interest rate for interest capitalization purposes. (Round weightedaverage interest rate to 4 decimal places, e.g.0.2152 and final answer to 0 decimal places, e.g.5, 275.) Avoidable interest

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