January 1, 2021, Kendall Inc began construction of an automated cattle feeder system. The system was and ready for use on September 30, 2022 Expenditures on the project were as follows January 12021 $ 100,000 September 12021$ 300,000 December 31, 2021 $ 300,000 March 31, 2022 $ 300,000 September 30, 2022$ 200,000 Kendall borrowed 750,000 with special -purpose construction loan at 12% interest on January 1, 2021which was outstanding throughout the construction period. The company had other debt arrangements , namely a \$4,500,000 in 9% bands payable outstanding in 2021 and 2022 Interest capitalized for 2021 reporting period 12021 - 0ec 31,2021) should equal

On January 1, 2021. Kendall Inc. began construction of an automated cattle feeder system. The system was finished and ready for use on September 30, 2022. Expenditures on the project were as follows: January 1, 2021 $ 100,000 September 1, 2021 $ 300,000 December 31, 2021 $ 300.000 March 31, 2022 $ 300.000 September 30, 2022 $ 200,000 Kendall borrowed $750,000 with a special-purpose construction loan at 12% interest on January 1, 2021, which was outstanding throughout the construction period. The company had other debt arrangements, namely a $4,500,000 in 9% bonds payable outstanding in 2021 and 2022. Interest capitalized for 2021 reporting period Jan 1, 2021 - Dec 31, 2021) should equal $24.000 $28.285. 560,000