Question
Inde to answer the next two questions 124 and 25) On January 1, 2021, Heatherwick Studio began construction of an artistic structure to serve as
Inde to answer the next two questions 124 and 25) On January 1, 2021, Heatherwick Studio began construction of an artistic structure to serve as a new tourist attraction in NYC. The structure, aho own as the Vet veis completed on July 31, 2022. Expenditures on the project, mainly payments to subcontractors, were as follows 2021 January 1, 2021 $300,000 June 30, 2021 $400,000 September 30, 2021 $500,000 In 2022 January 31, 2022 $700,000 March 31, 2022 $420,000 On January 1, 2021, the company obtained a $1 million construction loan with a 10% interest rate. The loan was outstanding during the entire construction period. The company's other interest-bearing debt included two long-term notes of $4,000,000 and $6,000,000 with interest rates of 8% and 16%, respectively. Both notes were outstanding during the entire construction period. To the nearest whole number, what is the total cost of the Vessel to be recorded on the company's balance sheet when the construction was complete? $2.929.153 O $2.523.153 O $2.325.153 O $2,727,153
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