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On December 3 1 , 2 0 2 4 , Culver Inc. borrowed $ 9 3 0 , 0 0 0 at 1 3 %
On December Culver Inc. borrowed $ at payable annually to finance the construction of a new building. In the company made the following expenditures related to this building: June $; July $; September $; December $ The building was completed in April Additional information is provided as follows:
Other debt outstanding
year, bond, dated December interest payable annually $
year, note, dated December interest payable annually
$
Interest revenue earned in
$
a
Determine the amount of interest to be capitalized in in relation to the construction of the building. Round answer to decimal places, eg
The amount of interest
$
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