Hackleman Company is constructing a building. Construction began in 2018 and the building was completed 12/31/18. Hackleman made payments to the construction company of $1,500,000 on 6/1, $3,300,000 on 9/1, and $3,000,000 on 12/31. The weighted-average accumulated expenditures were:

a.

$1,725,000

b.

$1,850,000

c.

$2,100,000

d.

$1,975,000

e.

$1,700,000

If an exchange of nonmonetary assets lacks commercial substance and results in a gain, the gain is entirely deferred if:

a.

Cash is received or if cash is paid

b.

Cash is received, but not if cash is paid

c.

Cash is paid, but not if cash is received