Question: I need help finding out the interest rate next to my answer that is marked with a red X for incorrect. i used 12% and

I need help finding out the interest rate next to my answer that is marked with a red X for incorrect. i used 12% and that is wrong, i tried 10% and it is wrong, i even tried 8% and it is wrong. i need help finding the right answer, thanks!

On January 1,2024 , the Highlands Company began construction on a new manufacturing facility for its own use. The building was completed in 2025 . The company borrowed $2,200,000 at 8% on January 1 to help finance the construction. In addition to the construction loan, Highlands had the following debt outstanding throughout 2024: $9,000,000,10% bonds $6,000,000,8% long-term note Construction expenditures incurred during 2024 were as follows: Required: Calculate the amount of interest capitalized for 2024 using the specific interest method. Note: Do not round the intermediate calculations. Round your percentage answers to 1 decimal place (L.e. 0.123 should be entered as 12.3\%). Required: Calculate the amount of interest capitalized for 2024 using the specific interest method. Note: Do not round the intermediate calculations. Round your percentage answers to 1 decimal place (i.e. 0.123 should be entered as 12.3%

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