(a) Situation On January 1, 2022, Marigold Outfitters signed a fixed-price contract to have Builder Associates construct a major plant facility at a cost of R$3,920,000. It was estimated that it would take 3 years to complete the project. Also on January 1, 2022, to finance the construction cost, Marigold borrowed R$3,920,000 payable in 10 annual installments of R$392,000, plus interest at the rate of 10%. During 2022, Marigold made deposit and progress payments totaling R$1,470,000 under the contract. The excess borrowed funds were invested in short-term securities, from which Marigold realized investment income of R$49,000. What amount should Marigold report as capitalized borrowing cost at December 31, 2022? Capitalized borrowing cost R$ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit