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Montgomery Industries spent $570,000 in 2020 on a construction project to build a library, Montgomery also capitalized $28.500 of interest on the project in 2020.
Montgomery Industries spent $570,000 in 2020 on a construction project to build a library, Montgomery also capitalized $28.500 of interest on the project in 2020. Montgomery financed 100% of the construction with a 12% construction loan. The project was completed on September 30, 2021. Additional expenditures in 2021 were as follows: Feb. 28 Apr. 30 Jul. 1 Sept. 30 Required: $ 87,300 177,300 33,300 61,300 Determine the completed cost of the library (Do not round intermediate calculations.) Completed cost of the library
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