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Bramble Corp. is constructing a building. Construction began on January 1 and was completed on December 31 . Expenditures were $6370000 on March 1, $5260000
Bramble Corp. is constructing a building. Construction began on January 1 and was completed on December 31 . Expenditures were $6370000 on March 1, \$5260000 on June 1, and \$7950000 on December 31. Bramble Corp. borrowed $3150000 on January 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10\%, 3-year, $6390000 note payable and an 11\%, 4-year, \$12850000 note payable. What amount of interest should be charged to expense? $1494815$1116815$2052500$7884815
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