Question: On March 1, 2020, Kent Corp. started construction on a new production facility. To finance the project, on January 1,2021 , Kent Corp. borrowed $4,000,000

On March 1, 2020, Kent Corp. started construction on a new production facility. To finance the project, on January 1,2021 , Kent Corp. borrowed $4,000,000 as a construction loan that is collateralized by the new facility. The 8% construction loan is due in 5 years and interest is due annually on December 31. Kent Corp. made the following expenditure payments to the contractor during 2021. The project is expected to be completed during 2025. Kent Corp. had the following generic debt outstanding during 2021 in addition to the construction loan: Clearly label each requirement and show your work. Requirements: 1. Compute weighted average accumulated expenditures for 2021. (4 points) On March 1, 2020, Kent Corp. started construction on a new production facility. To finance the project, on January 1,2021 , Kent Corp. borrowed $4,000,000 as a construction loan that is collateralized by the new facility. The 8% construction loan is due in 5 years and interest is due annually on December 31. Kent Corp. made the following expenditure payments to the contractor during 2021. The project is expected to be completed during 2025. Kent Corp. had the following generic debt outstanding during 2021 in addition to the construction loan: Clearly label each requirement and show your work. Requirements: 1. Compute weighted average accumulated expenditures for 2021. (4 points)

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