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How do I calculate the amount of interest capitalized for 2021 using the specific interest method. On January 1, 2021, the Highlands Company began construction

How do I calculate the amount of interest capitalized for 2021 using the specific interest method.
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On January 1, 2021, the Highlands Company began construction on a new manufacturing facility for its own use. The building was completed in 2022. The company borrowed $2,100,000 at 8% on January 1 to help finance the construction. In addition to the construction loan, Highlands had the following debt outstanding throughout 2021 $7,000,000, 13% bonds $3,000,000, 8% long-term note Construction expenditures incurred during 2021 were as follows: January 1 March 31 June 30 September 30 December 31 $ 860,000 1,460,000 1,112,000 860,000 660,000 Required: Calculate the amount of interest capitalized for 2021 using the specific interest method (Do not round the intermediate calculations. Round your percentage answers to 1 decimal place (.e. 0.123 should be entered as 12.3%).) Date Expenditure Weight Average January 1 March 31 X September 36 December 31 860,000 660,000 Required: Calculate the amount of interest capitalized for 2021 using the specific interest method. (Do not round the intermediate calculations. Round your percentage answers to 1 decimal place (i.e. 0.123 should be entered as 12.3%).) Expenditure Weight Average X X Date January 1 March 31 June 30 September 30 December 31 Accumulated expenditure X x X 0 $ Amount Interest Rate Capitalized Interest Average accumulated expenditures $ 0 X 94 = S % 0 $ -0

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