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On January 1 of the current year, a company began construction of an office building to be used as its corporate headquarters. The building was

On January 1 of the current year, a company began construction of an office building to be used as its corporate headquarters. The building was completed early in the following year. Construction expenditures for the current year, which were incurred evenly throughout the year, totaled $9,000,000. The company had the following debt obligations which were outstanding during all of the current year:
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\table[[Construction loan, 11%,$2,250,000
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