Question: Question 4I'm confused by this iz 4 Saved Help Save & Exit 4 On June 1, 2020, the Crocus Company began construction of a new

Question 4I'm confused by this

Question 4I'm confused by this iz 4 Saved Help Save & Exit

iz 4 Saved Help Save & Exit 4 On June 1, 2020, the Crocus Company began construction of a new manufacturing plant. The plant was completed on October 31, 2021. Expenditures on the project were as follows ($ In millions): July 1, 2020 58 October 1, 2020 26 its February 1, 2021 34 April 1, 2021 23 01:50:53 September 1, 2021 22 October 1, 2021 8 On July 1, 2020, Crocus obtained a $76 million construction loan with a 8% interest rate. The loan was outstanding through the end of October, 2021. The company's only other interest-bearing debt was a long-term note for $100 million with an interest rate of 10%. This note was outstanding during all of 2020 and 2021. The company's fiscal year-end is December 31. What is the amount of interest that Crocus should capitalize in 2021, using the specific interest method? (Enter your answers to nearest whole dollar amount.)

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