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On January 1, 2024, a company began construction of a new warehouse. The building was finished and ready for use on September 30, 2025. Expenditures
On January 1, 2024, a company began construction of a new warehouse. The building was finished and ready for use on September 30, 2025. Expenditures on the project were as follows:
| January 1, 2024 | $ 300,000 |
|---|---|
| September 1, 2024 | $ 450,000 |
| December 31, 2024 | $ 450,000 |
| March 31, 2025 | $ 450,000 |
| September 30, 2025 | $ 300,000 |
The company had $5,000,000 in 12% bonds outstanding through both years.
What was the final cost of the warehouse?
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