Arlington Company is constructing a building. Construction began on January 1 and was completed on December 31.

Expenditures were as follows:

$2,400,000 on March 1,

$1,980,000 on June 1,

$3,000,000 on December 31.

Arlington Company borrowed $1,200,000 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, $2,400,000 note payable and an 11%, 4-year, $4,500,000 note payable.

Required:

Determine the following for Arlington (show all components of your answer for partial credit review). Round any percentage to two decimal places.

a. Weighted average accumulated expenditures.

b. Actual interest for the year

c. Capitalized interest.