outstanding in 2024 and 2025. Average accumulated expenditures for 2024 was: Multiple Choice $420,000. $364,000. $314,000. $522,000

On January 1, 2024, a company began construction of an automated cattle feeder system. The system was finished and ready for use on September 30, 2025. Expenditures on the project were as follows: January 1, 2024 September 1, 2024 December 31, 2024 March 31, 2025 September 30, 2025 $ 210,000 $ 312,000 $ 312,000 $ 312,000 $ 210,000 The company borrowed $754,000 on a construction loan at 8% interest on January 1, 2024. This loan was outstanding throughout the construction period. The company had $4,520,000 in 8% bonds payable outstanding in 2024 and 2025. Average accumulated expenditures for 2024 was: Multiple Choice O O O O $420,000. $364,000. $314,000. $522,000.