Early in 2017, Mookie Corporation engaged Bellinger, Inc. to design and construct a complete modernization of Mookie's manufacturing facility. Construction began on March 1, 2017 and was completed on December 31, 2017. Mookie made the following payments to Bellinger, Inc. during 2017:

DatePayment

April 1, 2017$3,800,000

August 31, 20173,400,000

December 1, 20173,750,000

In order to help finance the construction, Mookie reported the following capital available:

• $3,000,000 10-year, 8% bonds payable, issued on January 1, 2017, with interest payable annually on January 1. (This is the specific construction loan.)
• $2,000,000 10-year, 12% note payable, issued on January 1, 2013 and due January 1, 2023, with interest payable annually on January 1.
• $1,000,000 3-year, 9% note payable, issued on January 1, 2017 and due January 1, 2020, with interest payable annually on January 1.
• 1,000,000 shares of no-par common stock, issued at $10 per share on October 1, 2017.

Compute the following for Mookie Corporation:

(Round answers to the nearest dollar; Do not enter dollar signs, decimals, or commas; numbers only--EXCEPT FOR THE AVERAGE INTEREST RATE--SEE BELOW)

Weighted-average accumulated expenditures qualifying for capitalization of interest cost.

Average interest rate on the non-specific loans (enter your answer using the following format xx.xx%).