Question: Marigold Corp. is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6380000 on March 1, $5250000 on

Marigold Corp. is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6380000 on March 1, $5250000 on June 1, and $8050000 on December 31. Marigold Corp. borrowed $3250000 on January 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 3-year, $6450000 note payable and an 11%, 4-year, $12350000 note payable. What amount of interest should be charged to expense? $1066729 $1456731 $1159129 $1996500

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