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Montgomery Industries spent $600,000 in 2020 on a construction project to build a library. Montgomery also capitalized $30,000 of Interest on the project in 2020.

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Montgomery Industries spent $600,000 in 2020 on a construction project to build a library. Montgomery also capitalized $30,000 of Interest on the project in 2020. Montgomery financed 100% of the construction with a 10% construction loan. The project was completed on September 30, 2021. Additional expenditures in 2021 were as follows: Feb. 28 Apr. 30 $90.000 180.000 36,000 64,000 Jul 1 Sept. 30 Required: Determine the completed cost of the library. Completed cost of the library

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