mogu Test & Fall 2010 loage 1 outle-Owing Decorare con CPO cary Faculty Tools Student Tools Need Help? Tristyn Campbell | Question 15 Not yet answered Points out of 200 Remove flag On January 1, 2020, the Crocus Company began construction of a new manufacturing plant. The plant was completed on October 31, 2021. Expenditures on the project were as follows (sin millions): July 1, 2020 54 October 1, 2020 22 February 1, 2021 30 April 1, 2021 21 September 1, 20 2021 October 1, 2021 On July 1, 2020, Crocus obtained a $70 million construction loan with a 6% interest rate. The loan was outstanding through the end of October 2021. The company's only other interest-bearing debt was a long-term note for $100 million with an interest rate of 8% This note was outstanding during all of 2020 and 2021. The company's fiscal year-end is December 31. What is the amount of interest that Crocus should capitalize in 2020, using the specific interest method? Select one: A. $1.90 million B. $1.95 million C. $2.96 million D. None of these is correct Question 16 Not yet answered On January 1, 2020, the Crocus Company began construction of a new manufacturing plant. The plant was completed on October 31, 2021. Expenditures on the project were as follows (sin millions): July 1, 2020 54 Points out of