Exercise 10-7 Flint Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of S4,957,500 on January 1, 2017. Flint expected to complete the building by December 31, 2017. Flint has the following debt obligations outstanding during the construction period. construction loan-10% interest, payable semiannually, issued December 31, 2016 Short-term loan-8% interest, payable monthly, and principal payable at maturity on May 30, 2018 Long-term loan-9% interest, payable on January 1 of each year, principal payable on January 1, 2021 $2,015,00 1,605,700 993,300 Assume that Flint completed the office and warehouse building on December 31, 2017, as planned at a total cost of $5,195,900, and the weighted-average amount of accumulated expenditures was $3,810,800. Compute the avoidable interest on this project. (Use interest rates rounded to 2 decimal places, e.g. 7.58% for computational purposes and round final answers to 0 decimal places, e.g. 5,275.) Avoidable Interest LINK TO TEXT Compute the depreciation expense for the year ended December 31, 2018. Flint elected to depreciate the building on a straight-line basis and determined that the asset has a useful life of 30 years and a salvage value of $299,200. (Round answer to 0 decimal places, eg. 5,275.) Depreclation Expense