Question: Please help me with this question, thank you Brief Exercise 10-03 Waterway Company is constructing a building. Construction began on February 1 and was completed

Please help me with this question, thank you

Brief Exercise 10-03 Waterway Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,052,000 on March 1, $1,200,000 on June 1, and $3,007,200 on December 31. Waterway Company borrowed $1,042,720 on March 1 on a 5-year, 13% note to help finance construction of the building. In addition, the company had outstanding all year a 9%, 5-year, $2,039,800 note payable and an 10%, 4-year, $3,462,500 note payable. Compute the weighted average interest rate used for interest capitalization purposes. (Round answer to 2 decimal places, e.g. 7.58%.) Weighted-average interest rate %

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