Question: please can you help me to solve this question please ? On January 1, 2022, Lawrence Co. began construction of a building to be used
On January 1, 2022, Lawrence Co. began construction of a building to be used as its office headquarters. The building is expected to be completed on December 31, 2022. Expenditures on this project during 2022 were as follows: On Jan. 1, 2022, the company obtained a $480,000 specific constraction lonn with an 8% mterect rate. The loan was outstanding during the entire construction period. The company's other interest-bearing debts included two long-term notes of $200,000 and $600,000 with interest rates of 12% and 9%, respectively. Both notes were outstanding during the entire construction period. Instruction: (a) Determine the amonnt of interest capitalized for 2022. Please show your work (ie the weighted aterage accumulated expenditure, the actual interest, the weighted average interest rate, and the avoidable intereat) to support your final answer. Please round the WA interest rate to four decimal places when necesuary. Aaswer: The amont of inierest capitalized for 2022 is (b) Regardless your answer in (a), deternine the amount of avoid able interest for 2022 assuming that the weighted average accumnalated expenditure is $320,000 (other things being equal). Answer The smount of avoidable interest for 2022 is
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