Question: Testbank Multiple Choice Question 88 Bramble Corp. is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6420000

Testbank Multiple Choice Question 88

Bramble Corp. is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6420000 on March 1, $5320000 on June 1, and $8950000 on December 31. Bramble Corp. borrowed $3190000 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, $6390000 note payable and an 11%, 4-year, $12350000 note payable.

What is the avoidable interest for Bramble Corp.?

$443333

$1241179

$943871

$382800

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