Early in 2020, ACY Limited engaged a contractor to design and construct a new warehouse. The warehouse was completed and ready for use in early 2021. ACY Limited incurred the following expenditures for the construction. March 1, 2020 April 1, 2020 May 31, 2020 July 1, 2020 December 31, 2020 $ 90,000 72,000 75,000 70,000 200,000 ACY Limited had the following debt outstanding on December 31, 2020. 1. 12%, 3-year note to finance the construction of this $ 150,000 warehouse, dated January 1, 2020, with interest payable annually on December 31 2. 12%, 10-year bonds issued at par on December 31, 2015, 400,000 with interest payable annually on December 31 3. 9%, 3-year note payable, dated January 1, 2019, with 200,000 interest payable annually on December 31 Requirement: A. Advise ACY Limited how to account for the interest incurred related to the warehouse in 2020. Support your answers with detailed calculation. (10 marks)