Question: On December 3 1 , 2 0 2 4 , Culver Inc. borrowed $ 9 3 0 , 0 0 0 at 1 3 %

 On December 31,2024, Culver Inc. borrowed $930,000 at 13% payable annually

On December 31,2024, Culver Inc. borrowed $930,000 at 13% payable annually to finance the construction of a new building. In 2025, the company made the following expenditures related to this building: June 1,$372,000; July 1,$558,000; September 1, $1,116,000; December 1,$558,000. The building was completed in April 2026. Additional information is provided as follows:
Other debt outstanding
10-year, 11% bond, dated December 31,2018, interest payable annually $9,300,000
15-year, 13% note, dated December 31,2012, interest payable annually
$2.325,000
Interest revenue earned in 2025
$5,580
(a)
Determine the amount of interest to be capitalized in 2025 in relation to the construction of the building. (Round answer to 0 decimal places, e.g.5,125.)
The amount of interest
$
eTextbook and Media
List of Accounts
to finance the construction of a new building. In 2025, the company

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