On March 1, 2025, Newton Company purchased land for an office site by paying $2 began construction on the office building on March 1. The following payments were Date March 1, 2025. April 1, 2025 May 1, 2025 June 1, 2025 The office was completed and ready for occupancy on July 1. To help pay for cons land $3,600,000 was borrowed on March 1, 2025 on a 9%, 3-year note payable. construction note, the only debt outstanding during 2025 was a $1,500,000, 129 dated January 1, 2025. The actual interest cost incurred during 2025 was O $504,000. O $450,000. Expenditures $1,800,000 2,520,000 4,500,000 4,800,000 $420,000. O $252,000.

On March 1,2025 , Newton Company purchased land for an office site by paying $2 began construction on the office building on March 1 . The following payments wer The office was completed and ready for occupancy on July 1 . To help pay for con land $3,600,000 was borrowed on March 1, 2025 on a 9%, 3-year note payable. construction note, the only debt outstanding during 2025 was a $1,500,000,12 dated January 1, 2025. The actual interest cost incurred during 2025 was $504,000. $450,000. $420,000. $252,000