During 2017, Sheffield Corp. incurred weighted-average accumulated expenditures of $1740000 during construction of assets that qualified for
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Question:
During 2017, Sheffield Corp. incurred weighted-average accumulated expenditures of $1740000 during construction of assets that qualified for capitalization of interest. The only debt outstanding during 2017 was a $2090000, 11%, 5-year note payable dated January 1, 2017. What is the amount of interest that should be capitalized by Sheffield during 2017?
a)$0.
b)$38500.
c)$229900.
d)$191400.
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