Exercise 10-7 (Part Level Submission) Windsor Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $4,950,000 on January 1, 2017. Windsor expected to complete the building by December 31, 2017. Windsor 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 $1,989,400 1,591,100 993,800 Assume that Windsor completed the office and warehouse building on December 31, 2017, as planned at a total cost of $5,211,800, and the weighted-average amount of accumulated expenditures was $3,768,500. 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, eg. 5,275.) Avoidable Interest Click if you would like to Show Work for this question Open Show Work Attempts: 0 of 15 used SAVE FOR LATER