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On January 2, 2020, Coronado Industries began construction of a new citrus processing plant. The automated plant was finished and ready for use on September
On January 2, 2020, Coronado Industries began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2021. Expenditures for the construction were as follows:
| January 2, 2020 | $ 596000 |
| September 1, 2020 | 1802400 |
| December 31, 2020 | 1802400 |
| March 31, 2021 | 1802400 |
| September 30, 2021 | 1216000 |
Coronado Industries borrowed $3310000 on a construction loan at 12% interest on January 2, 2020. This loan was outstanding during the construction period. The company also had $12360000 in 9% bonds outstanding in 2020 and 2021. The interest capitalized for 2021 was:
|
| $374356 |
|
| $355242 |
|
| $76456 |
|
| $297900 |
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