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On January 1, 2021, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2022. Expenditures
On January 1, 2021, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2022. Expenditures on the project were as follows:
January 1, 2021 | $ | 300,000 |
|
September 1, 2021 | $ | 450,000 |
|
December 31, 2021 | $ | 450,000 |
|
March 31, 2022 | $ | 450,000 |
|
September 30, 2022 | $ | 300,000 |
|
Dreamworld had $5,000,000 in 12% bonds outstanding through both years.
What was the final cost of Dreamworld's warehouse?
A) $2,154,480.
B) $2,143,860.
C) $1,950,000.
D) $1,254,000.
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