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On January 1, 2013, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2014. Expenditures

On January 1, 2013, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2014. Expenditures on the project were as follows:

January 1,2013 $334,000
September 1,2013 $498,000
December 31,2013 $498,000
March 31,2014 $498,000
September 30,2014 $334,000

Dreamworld had $6,600,000 in 12% bonds outstanding through both years.

Dreamworld's average accumulated expenditures for 2013 was:

$668,000.
$500,000.
$583,500.
$334,000.

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