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Coronado Industries is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6370000 on March 1, $5300000 on
Coronado Industries is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6370000 on March 1, $5300000 on June 1, and $8950000 on December 31. Coronado Industries borrowed $3180000 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, $6360000 note payable and an 11\%, 4-year, \$12350000 note payable. What is the actual interest for Coronado Industries? $938052$1995500$2411080$2376100
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