Ferrolino Company is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were P4,000,000 on March 1, P3,300,000 on June 1, and P5,000,000 on December 1. Ferrolino Company borrowed P2,000,000 on January 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 3-year, P4,000,000 note payable and an 12%, 4-year, P7,500,000 note payable.

1.) What are the weighted-average accumulated expenditures?

2.) What is the weighted-average interest rate used for interest capitalization purposes?