Question $6$

$\frac{0}{5\mathrm{.}55}$ points

UMPI Company is constructing a building. Construction began on January $1$ and was completed on

December $31.$ Expenditures were $$6,400,000$ on March $1,$$$5,280,000$ on June $1,$ and $$8,000,000$ on

December $31.$ UMPI Company borrowed $$3,200,000$ on January $1$ on a $5-$year, $12\%$ note to help finance

construction of the building. In addition, the company had outstanding all year a $10\%,3-$year, $$6,400,000$

note payable and an $11\%,4-$year, $$12,000,000$ note payable.

What is the weighted average of the accumulated expenditures?

$8,413,333$

$19,680,000$

$11,680,000$

$9,840,000$