On January 1, 2020, The Mills Conveying Equipment Company began construction of a building to be used as its office headquarters. The building was completed on December 30, 2020. Expenditures on the project were as follows: January 2, 2020: $500,000 March 31, 2020: 400,000 September 30, 2020: 600.000 Total Accumulated Expenditures $1,500,000 On January 2, 2020 the company obtained a $500,000 construction loan with a 9% interest rate. The loan was outstanding during the entire construction period. the company's other interest bearing debt included two long term notes of $200,000 with a 6% interest rate and $400,000 with a 12% interest rate. Both notes were outstanding during the entire construction period. Calculate the avoidable interest. A Calculate the actual interest A What is the amount of interest capitalized in 2020? 88499.97 A What is the amount of interest expense in 2020? A On January 1, 2020, The Mills Conveying Equipment Company began construction of a building to be used as its office headquarters. The building was completed on December 30, 2020. Expenditures on the project were as follows: January 2, 2020: $500,000 March 31, 2020: 400,000 September 30, 2020: 600.000 Total Accumulated Expenditures $1,500,000 On January 2, 2020 the company obtained a $500,000 construction loan with a 9% interest rate. The loan was outstanding during the entire construction period. the company's other interest bearing debt included two long term notes of $200,000 with a 6% interest rate and $400,000 with a 12% interest rate. Both notes were outstanding during the entire construction period. Calculate the avoidable interest. A Calculate the actual interest A What is the amount of interest capitalized in 2020? 88499.97 A What is the amount of interest expense in 2020? A