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On July 31, 2022, Carla Company engaged Duval Tooling Company to construct a special-purpose piece of factorymachinery. Construction began immediately and was completed on November

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On July 31, 2022, Carla Company engaged Duval Tooling Company to construct a special-purpose piece of factorymachinery. Construction began immediately and was completed on November 1,2022. To help finance construction, on July 31 Carla issued a $512,000,3-year, 15% note payable at Wellington National Bank, on which interest is payable each July 31 . On July 31,$384,000 of the proceeds of the note was paid to Duval. The remainder of the proceeds was temporarily imvested in short-term marketable securities (trading securities) at 12\% until November 1. On November 1 . Carla made a final $128,000 payment to Duval. (a) Calculate the interest expense, interest revenue, and total borrowing cost to be capitalized during 2022. Interest expense Interest revenue

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