On June 1,2020 , the Crocus Company began construction of a new manufacturing plant. The plant was completed on October 31, 2021. Expenditures on the project were as follows ( $ in millions): On July 1,2020 , Crocus obtained a $70 million construction loan with a 6% interest rate. The loan was outstanding through the end of October, 2021. The company's only other interest-bearing debt was a long-term note for $100 million with an interest rate of 8%. This note was outstanding during all of 2020 and 2021 . The company's fiscal year-end is December 31. In computing the capitalized interest for 2021, Crocus' average accumulated expenditures are: $103.54 million. $46.30 million. $122.30 million. $124.25 million