On June $1,2023,$ a company began construction of a new manufacturing plant. The plant was completed on

October $31,2024.$ Expenditures on the project were as follows $($ $ in millions$)$:

On July $1,2023,$ the company obtained a $$109$ million construction loan with a $9\%$ interest rate. The loan was

outstanding through the end of October, $2024.$ The company's only other interest$-$bearing debt was a long$-$term

note for $$100$ million with an interest rate of $11\%.$ This note was outstanding during all of $2023$ and $2024.$ The

company's fiscal year$-$end is December $31.$

In computing the capitalized interest for $2024,$ the average accumulated expenditures are:

Multiple Choice

$$215\mathrm{.}38$ million.

$$137\mathrm{.}40$ million.

$$213\mathrm{.}43$ million.

$$194\mathrm{.}67$ million.