Question: * Your answer is incorrect. Shamrock Company is constructing a building Construction began on February 1 and was completed on December 31 Expenditures were $1.2

* Your answer is incorrect. Shamrock Company is constructing a building Construction began on February 1 and was completed on December 31 Expenditures were $1.2 million on March 1. $0.9 million on June 1, and $3 million on December 31. Shamrock Company borrowed $1.1 million on March 1 on a five-year, 11% note to help finance the building construction. In addition, the company had outstanding all year a $1 million, five-year, 13% note payable and a $3.5 million, four-year, 17% note payable. Calculate the appropriate capitalization rate on general borrowings that would be used for capitalization of borrowing costs. (Round answer to 2 decimal places, eg. 52.75%) 15.95 %6 Capitalization Rate

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