Kingbird Company is constructing a building Construction began on February 1 and was completed on December 31 Expenditures were $2,040,000 on March 1, $1,320,000 on June 1, and $3,051,830 on December 31 Kingbird Company borrowed $1,040,720 on March 1 on a 5 year, 13 note to help finance construction of the building In addition, the company had outstanding all year a 10 , 5 year, $2,324,600 note payable and an 11 , 4 year, $3,389,200 note payable Compute the weighted average interest rate used for interest capitalization purposes (Round answer to 2 decimal places, e g 7 58 ) Kingbird Company is constructing a building Construction began on February 1 and was completed on December 31 Expenditures were $2,040,000 on March 1,$1,320,000 on June 1 , and $3,051,830 on December 31 Kingbird Company borrowed $1,040,720 on March 1 on a 5 year, 13 note to help finance construction of the building In addition, the company had outstanding all year a 10 , 5 year, $2,324,600 note payable and an 11 , 4 year, $3,389,200 note payable Compute the weighted average interest rate used for interest capitalization purposes (Round answer to 2 decimal places, e g 7 58 )

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Kingbird Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,040,000 on March 1, $1,320,000 on

Kingbird Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,040,000 on March 1, $1,320,000 on June 1, and $3,051,830 on December 31. Kingbird Company borrowed $1,040,720 on March 1 on a 5-year, 13% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 5-year, $2,324,600 note payable and an 11%, 4-year, $3,389,200 note payable. Compute the weighted-average interest rate used for interest capitalization purposes. (Round answer to 2 decimal places, e.g. 7.58%.)

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Kingbird Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,040,000 on March 1,$1,320,000 on June 1 , and $3,051,830 on December 31 . Kingbird Company borrowed $1,040,720 on March 1 on a 5 -year, 13% note to help finance construction of the building. In addition, the company had outstanding all year a 10\%, 5-year, $2,324,600 note payable and an 11\%, 4-year, $3,389,200 note payable. Compute the weighted-average interest rate used for interest capitalization purposes. (Round answer to 2 decimal places, e.g. 7.58\%.)