On March 1, 2025, Bramble Corp. purchased land for an office site by paying $2730000 cash. Bramble began construction on the office building on March 1. The following expenditures were incurred for construction:

Date	Expenditures
March 1, 2025	$1810000
April 1, 2025	2560000
May 1, 2025	4420000
June 1, 2025	4770000

The office was completed and ready for occupancy on July 1. To help pay for construction, and purchase of land $3610000 was borrowed on March 1, 2025 on a 9%, 3-year note payable. Other than the construction note, the only debt outstanding during 2025 was a $1490000, 12%, 6-year note payable dated January 1, 2025.

The actual interest cost incurred during 2025 was ?

Answer rating: 100% (QA)

To calculate the actual interest cost incurred during 2025 we need to determine the interest expense ... View the full answer