On June 1, 2023, a company began construction of a new manufacturing plant. The plant was completed on October 31,2024. Expenditures on the project were as follows ( $ in millions): On July 1, 2023, the company obtained a $118 million construction loan with a 10% interest rate. The loan was outstanding through the end of October, 2024. The company's only other interest-bearing debt was a long-term note for $100 million with an interest rate of 9%. This note was outstanding during all of 2023 and 2024. The company's fiscal year-end is December 31. In computing the capitalized interest for 2024 , the average accumulated expenditures are: $236.75 million. $216.04 million. $234.80 million. $158.80 million