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Fast and correct answer will get a thumbs up On June 1, 2020, the Crocus Company began construction of a new manufacturing plant. The plant
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On June 1, 2020, the Crocus Company began construction of a new manufacturing plant. The plant was completed on October 31, 2021. Expenditures on the project were as follows ($ in millions): 46 54 July 1, 2020 October 1, 2020 February 1, 2021 April 1, 2021 September 1, 2021 October 1, 2021 CO MN 18 On July 1, 2020, Crocus obtained a $94 million construction loan with a 8% interest rate. The loan was outstanding through the end of October, 2021. The company's only other interest-bearing debt was a long-term note for $100 million with an interest rate of 10%. This note was outstanding during all of 2020 and 2021. The company's fiscal year-end is December 31. In computing the capitalized interest for 2021, Crocus' average accumulated expenditures are: In computing the capitalized interest for 2021, Crocus' average accumulated expenditures are: Multiple Choice $130.00 million. $187.23 million. $205.99 million. $207.94 millionStep by Step Solution
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