Martin Company is constructing a building for its own use. Construction began on January 1 and was completed on December 31 Assume weighted average accumulated expenditures were $6310,000. Martin Company borrowed $2,400,000 on January 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 3-year, 54,800,000 note payable and an 11%, 4-year, 89,000,000 note payable What is the weighted-average interest rate used for interest capitalization purposes if Martin is using the weighted average interest method for capitalization? (Carry to 4 decimal places.) Select one O a. 11% Ob 10.85% OC 10.5% od 10.65% During Year 1, Martin Corporation acquired a mineral mine for $4,000,000 of which $400,000 was ascribed to land value after the mineral has been removed. Geological surveys have indicated that 10 million units of the mineral could be extracted. During Year 1, 1,800,000 units were extracted and 1,500,000 units were sold What is the amount of depletion expensed for Year 1? Select one O a $400,000 Ob $540,000 O $360,000 Od $648,000 Oe None of these choices