Current Attempt in Progress Flounder Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1.848,000 on March 1, $1,248,000 on June 1, and $3,031,810 on December 31. Flounder Company borrowed $1.136,530 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 9%.5-year, $2,091.200 note payable and an 10%, 4-year, $3,726,200 note payable. Compute the weighted average interest rate used for interest capitalization purposes. (Round answer to 2 decimal places, eg. 7.58K) Weighted rage interest rate eTextbook and Media Save for Later Attempts: unlimited Submit Answer