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4 25 points 01:59:27 TB Problem 10-223 (Algo) Montgomery Industries spent... Montgomery Industries spent $560,000 in 2023 on a construction project to build a library.
4 25 points 01:59:27 TB Problem 10-223 (Algo) Montgomery Industries spent... Montgomery Industries spent $560,000 in 2023 on a construction project to build a library. Montgomery also capitalized $28,000 of interest on the project in 2023. Montgomery financed 100% of the construction with a 8% construction loan. The project was completed on September 30, 2024. Additional expenditures in 2024 were as follows: February 28 April 30 July 1 September 30 $ 86,400 176,400 32,400 60,400 Required: Determine the completed cost of the library. Note: Do not round intermediate calculations.
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