kindly read carefully.

is the correct answer: option 4 (495600)

Testbank Multiple Choice Question 79 On March 1, 2020, Coronado Industries purchased land for an office site by paying $2690000 cash. Coronado began construction on the office building on March 1. The following expenditures were incurred for construction: Date Expenditures March 1, 2020 $1830000 April 1, 2020 2560000 May 1, 2020 4510000 June 1, 2020 4880000 The office was completed and ready for occupancy on July 1. To help pay for construction, and purchase of land $3520000 was borrowed on March 1, 2020 on 39%, 3-year note payable Other than the construction note, the only debt outstanding during 2020 was a 51490000, 12%, 6-year note payable dated January 1, 2020 The actual interest cost incurred during 2020 was $442800 $413000 5247800 5495600