Question 2 --/1 View Policies Current Attempt in Progress Skysong Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,004,000 on March 1, $1,284,000 on June 1, and $3,024,560 on December 31. Skysong Company borrowed $1,101,510 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 5-year, $2,417,700 note payable and an 11%, 4- year. $3,702,800 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 eTextbook and Media Attempts: 0 of 3 used