A building was constructed on land purchased last year at a cost of $150,000. Construction began on February 1 and was completed on November 1. The payments to the contractor were as follows.

Date		Payment
2/1		$120,000
6/1		360,000
9/1		480,000
11/1		100,000

To finance construction of the building, a $600,000, 12% construction loan was taken out on February 1. The loan was repaid on November 1. The firm had $200,000 of other outstanding debt during the year at a borrowing rate of 8%.

What is the capitalization period for this building? Calculate the weighted average accumulated expenditures.

I'm not sure capitalization period for this building is 9 months(feb1-nov1). And when I calculate the weighted average accumulated expenditures, should I include do last year at a cost of $150,000?

Pleas give me detail like how and why? Thanks