Question: Coronado Industries is constructing a building. Construction began on January 1 and was completed on December 31. Expenditure were $6310000 on March 1, $5340000 on

Coronado Industries is constructing a building. Construction began on January 1

Coronado Industries is constructing a building. Construction began on January 1 and was completed on December 31. Expenditure were $6310000 on March 1, $5340000 on June 1, and $7950000 on December 31. Coronado Industries borrowed $3230000 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 $6400000 note payable and an 11%, 4-year, $12250000 note payable. What is the avoidable interest for Coronado Industries? O $935879 O $435341 O $1236915 O $387600

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