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On Jaruary 1, 2024 , we Mosan Manufacturing Compainy tyegan censtruction of a buliding to be used as iss aftice theadcquarters. fhe buliding wat completed

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On Jaruary 1, 2024 , we Mosan Manufacturing Compainy tyegan censtruction of a buliding to be used as iss aftice theadcquarters. fhe buliding wat completed of Snptember 30,2025 . Expenditures an the project were as follows On January 1, 2024, the company obtained a $3 million construction loan with a 10% interest rate. Assume the 53 mition loan is not specifically tied to construction of the building. The loan was outstanding all of 2024 and 2025. The company's other interest-bearing debt included two long term notes of $4,500,000 and $6,500,000 with interest rates of 5 ? $ and 7 . 5 , respectively, Both notes were outstanding during all of 2024 and 2025 . Interest is paid annually on all debt. The company's fiscal year-end is December 31 . Requirect: Using the weighted-average interest method, answer the following questions: 1. Caiculate the amount of interest that Mason should capitalize in 2024 and 2025 using the weighted-average method. 2. What is the total cost of the building? 3. Caiculate the amount of interest expense that will appear in the 2024 and 2025 income statements

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