Question: Your answer is incorrect. Concord Corporation is constructing a building. Construction began on January 1 and was completed on December 3 1 . Expenditures were

Your answer is incorrect.
Concord Corporation is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6360000 on March 1,$5250000 on June 1, and $8650000 on December 31. Concord Corporation 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, $6350000 note payable and an 11%,4-year, $12350000 note payable.
To which amount is the avoidable interest for Concord Corporation closest? (Round weighted-average interest rate percentage to 2 decimal places, eg.52.75. And final answer to 0 decimal places, eg.5,275.)
 Your answer is incorrect. Concord Corporation is constructing a building. Construction

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