Testbank Multiple Choice Question 88 Sheffield Corp. is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6440000 on March 1, $5340000 on June 1, and $8550000 on December 31. Sheffield Corp. borrowed $3160000 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, $12250000 note payable. What is the avoidable interest for Sheffield Corp.? O O $1241002 $379200 $445952 $946490