I'm needing help with this problem. The question is in the word document, the tables needed are also attached. Please let me know if you have any questions about the problem that need clarification.

Early in its fiscal year ending December 31, 2016, San Antonio Outfitters finalized plans to expand operations. The first stage was completed on March 28 with the purchase of a tract of land on the outskirts of the city. The land and existing building were purchased for $1,120,000. San Antonio paid $360,000 and signed a noninterest bearing note requiring the company to pay the remaining $760,000 on March 28, 2018. An interest rate of 6% properly reflects the time value of money for this type of loan agreement. Title search, insurance, and other closing costs totaling $36,000 were paid at closing. During April, the old building was demolished at a cost of $86,000, and an additional $66,000 was paid to clear and grade the land. Construction of a new building began on May 1 and was completed on October 29. Construction expenditures were as follows: May 1 $ 3,600,000 July 30 2,300,000 September 1 1,860,000 October 1 2,760,000 San Antonio borrowed $6,000,000 at 6% on May 1 to help finance construction. This loan, plus interest, will be paid in 2017. The company also had the following debt outstanding throughout 2016: $3,600,000, 10% long-term note payable $5,600,000, 7% long-term bonds payable In November, the company purchased 10 identical pieces of equipment and office furniture and fixtures for a lump-sum price of $760,000. The fair values of the equipment and the furniture and fixtures were $645,000 and $215,000, respectively. In December, San Antonio paid a contractor $365,000 for the construction of parking lots and for landscaping. Required: 1. Determine the initial values of the various assets that San Antonio acquired or constructed during 2016. The company uses the specific interest method to determine the amount of interest capitalized on the building construction. Assets: Initial Value: Land _____________ Land improvements _____________ Building _____________ Equipment ______________ Furniture ______________ 2. How much interest expense will San Antonio report in its 2016 income statement? Interest Expense _________________ M FVA of 51.jpg [1 169x63!' X II For: rk He'p - (38-: d- Fow to Take a Etna-err:- C G) iectures.mhhe.comjconnect/UOT'SUZS32x7|magesfFVA%2001%2081.jpg '0' TABLE 3 Future Value of an Ordinary Annuity of $1 FVA _ (1 + 1')" *1 1.0% 1.5% 2.0% 2.586 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.096 7.0% 8.0% 9.0% 10.0% 11.0% 12.096 20.0% 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 2.0100 2.0150 2.0200 2.0250 2.0300 2.0350 2.0400 2.0450 2.0500 2.0550 2.0600 2.0700 2.0800 2.0900 2.1000 2.1100 2.1200 22000 3.0301 3.0452 3.0604 3.0756 3.0909 3.1062 3.1216 3.1370 3.1525 3.1680 3.1836 3.2149 3.2464 3.2781 3.3100 3.3421 3.3744 3.6400 4.0604 4.0909 4.1216 4.1525 4.1836 4.2149 4.2465 4.2782 4.3101 4.3423 4.3746 4.4399 4.5061 4.5731 4.6410 4.7097 4.7793 5.3680 5.1010 5.1523 5.2040 5.2563 5.3091 5.3625 5.4163 5.4707 5.5256 5.5811 5.6371 5.7507 5.8666 5.9847 6.1051 6.2278 6.3528 7.4416 6.1520 6.2296 6.3081 6.3877 6.4684 6.5502 6.6330 6.7169 6.8019 6.8881 6.9753 7.1533 7.3359 7.5233 7.7156 7.9129 8.1152 9.9299 7.2135 7.3230 7.4343 7.5474 7.6625 7.7794 7.8983 8.0192 8.1420 8.2669 8.3938 8.6540 8.9228 9.2004 9.4872 9.7833 10.0890 12.9159 8.2857 8.4328 8.5830 8.7361 8.8923 9.0517 9.2142 9.3800 9.5491 9.7216 9.8975 10.2598 10.6366 11.0285 11.4359 11.8594 12.2997 16.4991 9.3685 9.5593 9.7546 9.9545 10.1591 10.3685 10.5828 10.8021 11.0266 11.2563 11.4913 11.9780 12.4876 13.0210 13.5795 14.1640 14.7757 20.7989 10.4622 10.7027 10.9497 11.2034 11.4639 11.7314 12.0061 12.2882 12.5779 12.8754 13.1808 13.8164 14.4866 15.1929 15.9374 16.7220 17.5487 25.9587 11.5668 11.8633 12.1687 12.4835 12.8078 13.1420 13.4864 13.8412 14.2068 14.5835 14.9716 15.7836 16.6455 17.5603 18.5312 19.5614 20.6546 32.1504 12.6825 13.0412 13.4121 13.7956 14.1920 14.6020 15.0258 15.4640 15.9171 16.3856 16.8699 17.8885 18.9771 20.1407 21.3843 22.7132 24.1331 39.5805 13.8093 14.2368 14.6803 15.1404 15.6178 16.1130 16.6268 17.1599 17.7130 18.2868 18.8821 20.1406 21 .4%3 22%34 24.5227 26.2116 28.0291 48.4966 14.9474 15.4504 15.9739 16.5190 17.0863 17.6770 18.2919 18.9321 19.5986 20.2926 21.0151 22.5505 24.2149 260192 27.9750 30.0949 32.3926 59.1959 16.0969 16.6821 17.2934 17.9319 18.5989 19.2957 20.0236 20.7841 21.5786 22.4087 23.2760 25.1290 27.1521 29.3609 31.7725 34.4054 37.2797 72.0351 17.2579 17.9324 18.6393 19.3802 20.1569 20.9710 21.8245 22.7193 23.6575 24.6411 25.6725 27.8881 30.3243 33.0034 35.9497 39.1899 42.7533 87.4421 18.4304 19.2014 20.0121 20.8647 21.7616 22.7050 23.6975 24.7417 25.8404 26.9964 28.2129 30.8402 33.7502 36.9737 40.5447 44.5008 48.8837 105.9306 19.6147 20.4894 21.4123 22.3863 23.4144 24.4997 25.6454 26.8551 28.1324 29.4812 30.9057 33.9990 37.4502 41.3013 45.5992 50.3959 55.7497 128.1167 20.8109 21.7967 22.8406 23.9460 25.1169 26.3572 27.6712 29.0636 30.5390 32.1027 33.7600 37.3790 41.4463 46.0185 51.1591 56.9395 63.4397 154.7400 22.0190 23.1237 24.2974 25.5447 26.8704 28.2797 29.7781 31.3714 33.0660 34.8683 36.7856 40.9955 45.7620 51.1601 57.2750 64.2028 72.0524 186.6880 23.2392 24.4705 25.7833 27.1833 28.6765 30.2695 31.9692 33.7831 35.7193 37.7861 39.9927 44.8652 50.4229 56.7645 64.0025 72.2651 81.6987 25.0256 34.7849 37.5387 40.5681 43.9027 47.5754 51.6227 56.0849 61.0071 66.4388 72.4355 79.0582 94.4608 113.2832 136.3075 164.4940 199.0209 241.3327 \"81.8816 48.8864 54.2679 60.4020 67.4026 75.4013 84.5503 95.0255 107.0303 120.7998 136.6056 154.7620 199.6351 259.0565 337.8824 442.5926 581.8261 767.0914 7343.8578 M wnafsupgmasxwg x a. He'p a- FowtoTakea C G) Iectures.mhhe.comjconnect/UO7E02532xf|magesfPVA%20m\"762081.jpg '0' TABLE 4 Present Value of an Ordinary Annuity 0151 1 1.5% . 2.596 3.0% 3.5% 4.096 4.936 5.0% 5.5% 6.096 1.0% 8.0% 9.0% 10.0% 11.0% 12.0% 20.0% 0.97010 0.9852 0.98039 0.97561 0.97007 0.96618 0.96154 0%694 0.95238 0.94787 0.94340 0.93458 0.92593 0.91743 0.90909 0.90090 0.89286 0.83333 1.97040 1.95588 1.94156 1.92742 1.91347 1.89969 1.88609 1.97267 1.85941 1.84632 1.83339 1.80802 1.78326 1.75911 1.73554 1.71252 1.69005 1.52778 2.94099 2.91220 2.88388 2.05602 2.82861 2.80164 2.77509 2.74896 2.72325 2.69793 2.67301 262432 2.57710 2.53129 2.40685 2.44371 2.40183 2.10648 3.90197 3.85438 3.80773 3.76197 3.71710 3.67308 3.62990 3.58753 3.54595 3.50515 3.46511 3.38721 3.31213 3.23972 3.16987 3.10245 3.03735 2.58873 4.85343 4.78264 4.71346 4.64593 4.57971 4.51505 4.45182 4.38999 4.32948 4.27028 4.21236 4.10020 3.99271 3.08965 3.79079 3.69590 3.60478 2.99061 5.79548 5.69719 5.60143 5.50813 5.41719 5.32855 5.24214 5.15787 5.07569 4.99553 4.91732 4.76654 4.62298 4.48592 4.35526 4.23054 4.11141 3.32551 6.72819 6.59821 6.47199 6.34939 6.231028. 6.11454 6.00205 5.89270 5.78637 5.68297 5.58238 5.38929 5.20637 5.03295 4.96842 4.71220 4.56376 3.60459 7.65168 7.48593 7.32548 7.17014 7.01969 6.87396 6.73274 6.59509 6.46321 6.33457 6.20979 5.97130 5.74664 5.53482 5.33493 5.14612 4.96764 3.83716 8.56602 8.36052 8.16224 7.97097 7.78611 7.60769 7.43533 7.26879 7.10782 6.95220 6.80169 6.51523 6.24689 5.99525 5.75902 5.53705 5.32825 4.03097 9.47130 9.2221'8.98259 8.75206 853020 8.31661 8.11090 7.91272 7.72173 7.53763 7.36009 7.02358 6.71013 6.41766 6.14457 5.88923 5.65022 4.19247 10.!763 10.07112 9.78685 9.51421 9.25262 9.00155 8.76048 3.52892 8.30641 8.09254 7.8.8687 7.49067 7.13896 6.80519 649506 6.2052 5.93770 4.32706 11.25508 10.90751 10.57534 10.25776 9.95400 9.66333 9.38507 9.11858 8.86325 8.61852 8.38384 7.94269 7.53608 7.16073 6.81369 6.49236 6.19437 4.43922 12.13374 11.73153 11.34837 10.93319 10.63496 10.30274 9.98565 9.68285 9.39357 9.11708 8.85268 8.35765 7.90378 7.48690 7.10336 6.74987 6.42355 4.53268 13.00370 12.54338 12.10625 11.69091 11.29607 10.92052 10.56312 10.22283 9.89064 9.58965 9.29498 8.74547 8.24424 7.78615 7.36669 6.98187 6.62817 4.61057 13.86505 13.34323 12.84926 12.38138 11.93794 11.51741 11.11839 10.73955 10.37966 10.03758 9.71225 9.10791 8.55948 8.06069 7.60608 7.19\"? 6.81086 4.67547 14.71787 14.13126 13.57771 13.05500 12.56110 12.09412 11652301123402 10.83777 10462161010590 9.44665 8.85137 0.31256 7.82371 7.37916 6.97399 4.72956 15.56225 14.90765 14.29187 13.71220 13.16612 12.65132 12.16567 11.70719 11.27407 10.86461 10.47726 9.76322 9.12164 8.54363 8.02155 7.54879 7.11963 4.77463 16.39827 15.67256 14.99203 14.35336 13.75351 13.18968 12.65930 12.15999 11.60959 11.24607 10.82760 10.05909 9.37199 8.75563 8.20141 7.70162 7.24967 4.81219 17.22601 16.42617 15.67846 14.97889 14.32380 13.70984 13133941259329 12.08532 11.6076511.15812 10.33560 9.60360 8.95011 8.36492 7.83929 7.36578 4.84350 18.04555 17.16864 16.35143 15.58916 14.87747 1421240 13.59033 13.00794 12.46221 11.9503811.46992 10.59401 9.81815 9.12855 8.51356 7.96333 7.46944 4.86958 18.85698 11.90014 17.01121 16.13455 15.41502 14.69797 14.02916 13.40472 12.82115 12275241116408 10.83553 10.01680 9.29224 8.64869 8.07507 7.56200 4.89132 22.02316 20.71961 19.52346 18.42438 17.41315 16.48151 15622081482821 14.09394 11413931278336 11.65358 10.67478 9.82258 9.07704 8.42174 7.84314 4.94759 2580771 24.01584 22.39646 20.93029 19.60044 18.39205 17292031628889 15.37245 14533751376483 12.40904 11.25778 10.27365 9.42691 8.69379 8.05518 4.97894 32.83469 29.91585 27.35548 25.10278 23.11477 21.35507 19.79277 1840158 17.15909 16046121504630 13.33171 11.92461 10.75736 9.77905 8.95105 8.24378 4.99660 M WAD nf$1.jpg (\"689:6 X II For: rk HE'F- - (18.: d- 113wa Take a EcrE-r: C G) iectures.mhhe.comjconnect/UO7802532mmagesfFVAD%EUDf%20$1.Jpg '0' TABLE 5 Future Value of an Annuity Due of $1 FVAD - (Eli x :1 +17 1' 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 8.0% 9.0% 10.0% 11.0% 12.0% 20.0% 1.0100 1.0150 1.0200 1.0250 1.0300 1.0350 1.0400 1.0450 1.0500 1.0550 1.0600 1.0700 1.0800 1.0900 1.1000 1.1100 1.1200 1.2000 2.0301 2.0452 2.0604 2.0756 2.0909 2.1062 2.1216 2.1370 2.1525 2.1680 2.1836 2.2149 2.2464 2.2781 2.3100 2.3421 2.3744 2.6400 3.0604 3.0909 3.1216 3.1525 3.1836 3.2149 3.2465 3.2782 3.3101 3.3423 3.3746 3.4399 3.5061 3.5731 3.6410 3.7097 3.7793 4.3680 4.1010 4.1523 4.2040 4.2563 4.3091 4.3625 4.4163 4.4707 4.5256 4.5811 4.6371 4.7507 4.8666 4.9847 5.1051 5.378 5.3528 6.4416 5.1520 5.2296 5.3081 5.3877 5.4684 5.5502 5.6330 5.7169 5.8019 5.8881 5.9753 6.1533 6.3359 6.5233 6.7156 6.9129 7.1152 8.9299 6.2135 6.3230 6.4343 6.5474 6.6625 6. 7794 6.8983 7.0192 7.1420 7.2669 7.3938 7.6540 7.9228 8.2004 8.4872 8 .7833 9.0890 11.9159 7.2857 7.4328 7.5830 7.7361 7.8923 8%17 8.2142 8.3800 8.5491 8.7216 8.8975 9.2598 9.6366 10.0285 10.4359 10.8594 11.2997 15.4991 8.3685 8.5593 8.7546 8.9545 9.1591 9.3685 9.5828 9.8021 10.0266 10.2563 10.4913 10.9780 11.4876 12.0210 12.5795 13.1640 13.7757 19.7989 9.4622 9.7027 9.9497 10.2034 10.4639 10.7314 11.0061 11.2882 11.5779 11.8754 12.1808 12.8164 13.4866 14.1929 14.9374 15.7220 16.5487 24.9587 10.5668 10.8633 11.1687 11.4835 11.8078 12.1420 12.4864 12.8412 13.2068 13.5835 13.9716 14.7836 15.6455 16.5603 17.5312 18.5614 19.6546 31.1504 11.6825 12.0412 12.4121 12.7956 13.1920 13.6020 14.0258 14.4640 14.9171 15.3856 15.8699 16.8885 17.9771 19.1407 20.3843 21.7132 23.1331 38.5805 12.8093 13.2368 13.6803 14.1404 14.6178 15.1130 15.6268 16.1599 16.7130 17.2868 17.8821 19.1406 20.4953 21.9534 23.5227 25.2116 27.0291 47.4966 13.9474 14.4504 14.9739 15.5190 16.0863 16.6770 17.2919 17.9321 18.5986 19.2926 20.0151 21.5505 23.2149 25.0192 26.9750 29.0949 31.3926 58.1959 15.0969 15.6821 16.2934 16.9319 17.5989 18.2957 19.0236 19.7841 20.5786 21.4087 22.2760 24.1290 26.1521 28.3609 30.7725 33.4054 36.2797 71.0351 16.2579 16.9324 17.6393 18.3802 19.1569 19.9710 20.8245 21.7193 22.6575 23.6411 24.6725 26.8881 29.3243 32.0034 34.9497 38.1899 41.7533 86.4421 17.4304 18.2014 19.0121 19.8647 20.7616 21.7050 22.6975 23.7417 24.8404 25.9964 27.2129 29.8402 32.7502 35.9737 39.5447 43.5008 47.8837 104.9306 18.6147 19.4894 20.4123 21.3863 22.4144 23.4997 24.6454 25.8551 27.1324 28.4812 29.9057 32.9990 36.4502 40.3013 44.5992 49.3959 54.7497 127.1167 19.8109 20.7967 21.8406 22.9460 24.1169 25.3572 26.6712 28.0636 29.5390 31.1027 32.7600 36.3790 40.4463 45.0185 50.1591 55.9395 62.4397 153.7400 21.0190 22.1237 23.2974 24.5447 25.8704 27.2797 28.7781 30.3714 32.0660 33.8683 35.7856 39.9955 44.7620 50.1601 56.2750 63.2028 71.0524 185.6880 22.2392 23.4705 24.7833 26.1833 27.6765 29.2695 30.9692 32.7831 34.7193 36.7861 38.9927 43.8652 49.4229 55.7645 63.0025 71.2651 80.6987 224.0256 23.4716 24.8376 26.2990 27.8629 29.5368 31.3289 33.2480 35.3034 37.5052 39.8643 42.3923 48.0057 54.4568 61.8733 70.4027 80.2143 91.5026 270.0307 28.5256 30.5140 32.6709 35.0117 37.5530 40.3131 43.3117 46.5706 50.1135 53.9660 58.1564 67.6765 78.9544 9232401081818 12699881493339 566.3773 35.1327 38.1018 41.3794 45.0003 49.0027 53.4295 58.3283 63.7524 69.7608 76.4194 8180171010730 122.3459 148.5752 180.9434 220.9132 270.2926 1418.2579 49.3752 55.0819 61.6100 69.0876 77.6633 87.5095 98.8265 111.8467 126.8398 144.1189 164.0477 213.6096 279.7810 368.2919 486.8518 645.8269 859.1424 8812.6294