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B On January 1, 2012, Will Company began construction of a new building for its own use. It was completed and put to productive
B On January 1, 2012, Will Company began construction of a new building for its own use. It was completed and put to productive use on December 31, 2012. Will has a December 31 year-end. Construction Costs Incurred of Date Amount Jan. 1, 2012 $200,000 May 1, 2012 $360,000 Sept. 1, 2012 $480,000 Dec. 1, 2012 $120,000 On January 1, 2012 Will borrowed $460,000 at 12% to help finance the construction, signing a one-year construction loan. In addition, Will had the following long-term debt outstanding throughout 2012. 10% bonds (maturing in 2022) $600,000 8% bonds (maturing in 2021) $400,000 Compute capitalized interest for 2012: Select one: Oa. $73,200 O b. $69,000 O c. $70,200 Od. $67,200 Oe $68,700
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