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Montgomery Industries spent $530,000 in 2015 on a construction project to build a library. Montgomery also capitalized $26,500 of interest on the project in 2015.

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Montgomery Industries spent $530,000 in 2015 on a construction project to build a library. Montgomery also capitalized $26,500 of interest on the project in 2015. Montgomery financed 100% of the construction with a 8% construction loan. The project was completed on September 30, 2016. Additional expenditures in 2016 were as follows: Feb. 28 Apr. 30 Jul. 1 Sept. 30 $ 83,700 173,700 29,700 57,700 Required: Determine the completed cost of the library. (Do not round intermediate calculations.) Completed cost of the library

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