On January 1, 2016, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2017. Expenditures on the project were as follows: January 1, 2016 September 1, 2016 December 31, 2016 March 31, 2017 September 30, 2017 $319,000 $468,000 $468,000 $468,000 $319,000 Dreamworld had $5,600,000 in 12% bonds outstanding through both years. Dreamworld's average accumulated expenditures for 2016 was: Multiple Choice $554,750. $638,000. $475,000. $319,000