On January 1, 2018, Kendall Inc. began construction of an automated cattle feeder system. The system was finished and ready for use on September 30, 2019. Expenditures on the project were as follows anuary 1, 2813 September 1, 2019 December 31, 2018 March 31, 2019 September 3, 2e19 $288,80e $3e8,80e $300,90e $308,0e0 9 2e, eee Kendall boro ed $750 000 on a construction loan at 12% interest on January 1 2018. This loan was outstanding hroughout the construction per d. The company had S4 500 000 in bonds payable outstanding in 2018 and 2019. Interest capitalized for 2018 was: Multiple Choice $60.000 $48,000 36,000 $42.000