Early in 2020, Chase Corporation engaged Griffy, Inc. to design and construct a complete modernization of Chase's manufacturing facility. Construction was begun on June 1, 2020 and was completed on December 31, 2020. Chase made the following payments to Griffy, Inc. during 2020: Date Payment June 1, 2020 $2,000,000 August 31, 2020 3,000,000 December 31, 2020 2,500,000 In order to help finance the construction, Chase issued the following during 2020: 1. $1,700,000 of 10-year, 9% bonds payable, issued at par on May 31, 2020, with interest payable annually on May 31. 2. 300,000 shares of no-par common stock, issued at $10 per share on October 1, 2020. In addition to the 9% bonds payable, the only debt outstanding during 2017 was a $425,000, 12% note payable dated January 1, 2016 and due January 1, 2023, with interest payable annually on January 1. 1) Determine if the assets qualify for capitalization of interest 2) Determine the capitalization period 3) Calculate the weighted Average Accumulated Expenditures 4) Calculate Actual and Avoidable Interest 5) What is the total cost of the equipment and annual depreciation assuming a 15-year life and no salvage value using the straight-line method