Question: Sheffield Corp. is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6450000 on March 1, $5350000 on

Sheffield Corp. is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6450000 on March 1, $5350000 on June 1, and $8250000 on December 31 . Sheffield Corp. borrowed $3250000 on January 1 on a 5 -year, 10% note to help finance construction of the building. In addition, the company had outstanding all year a 8%, 3-year, $6410000 note payable and an 9%, 4-year, $12750000 note payable. What are the weighted-average accumulated expenditures? $9960000$8495833$11800000$20050000

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