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On January 1st, 2021, Lincoln National Corp. started to build its own headquarter building. During 2021, it incurred $6,000,000 in costs evenly throughout the year.
On January 1st, 2021, Lincoln National Corp. started to build its own headquarter building.
- During 2021, it incurred $6,000,000 in costs evenly throughout the year.
- Lincoln National Corp. took out a $2,500,000, 10% construction loan on January 1st, 2021.
- The company had no other interest-bearing debt.
What amount of interest should Lincoln National Corp. capitalize in 2021?
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$250,000
-
$600,000
-
$300,000
-
$0
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Accounting, Representation And Responsibility
Authors: Niels Joseph Lennon
1st Edition
0367540436, 9780367540432
