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During 2020, Junin constructed a large shipping center for $600,225,000. Weighted average expenditures for the project were $80,030,000. To help pay for the project, Junin
During 2020, Junin constructed a large shipping center for $600,225,000. Weighted average expenditures for the project were $80,030,000. To help pay for the project, Junin took out a 4% construction loan for $64,020,000. Junin's only other outstanding debt was a loan payable of $240,100,000 with a 5% interest rate. How much interest can Junin capitalize on the project?
$4,001,500
$3,361,300
$3,841,400
$3,201,200
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