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Need help calculating avoidable interest! Vaughn Company is constructing a building. Construction began on February 1 and was completed on December 31 , Expenditures were

Need help calculating avoidable interest! image text in transcribed
Vaughn Company is constructing a building. Construction began on February 1 and was completed on December 31 , Expenditures were $1,968,000 on March 1, \$1,248,000 on June 1 , and $3,046,000 on December 31 . Vaughn Company borrowed $1,086,000 on March 1 on a 5 -vear, 12% note to help finance construction of the building In addition. the company had outstanding all year a 9%,5-year, $2,448,000 note payable and an 10%,4-year, $3,546,000 note payable. Compute avoidable interest for Vaughn Company. Use the weighted-average interest rate for interest capitalization purposes. (Round weighted-average interest rate to 4 decimal ploces, es, 0.2152 and final answer to 0 decimal ploces, es. 5,275.) Avoidable interest

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