10.

On January 1, 2016, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2017. Expenditures on the project were as follows:

January 1, 2016	$319,000
September 1, 2016	$468,000
December 31, 2016	$468,000
March 31, 2017	$468,000
September 30, 2017	$319,000

Dreamworld had $5,600,000 in 12% bonds outstanding through both years.

The average accumulated expenditures for 2017 by the end of the construction period was:

a) $1,312,000

b) $1,019,250

c) $2,042,000

d) $1,624,000