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D. Problem Solution (18 points) On December 1,2016, the CCSU Co. began construction of a new manufacturing plant. The plant was completed on October 31, 2018. Expenditures on the project were as follows (S in millions): March 1, 2017 October 1, 2017 February 1, 2018 April 1, 2018 September 1, 2018 October 1, 2018 54 30 21 20 On January 1, 2017, CCSU Co. obtained a $70 million construction loan with a 6% interest rate. The loan was outstanding through the end of October, 2018. 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 and 2018. The company's fiscal year-end is December 31. using the specific interest method? 2017 Requirements: - What is the average expenditure in 2017 (3 points)? - What is the interest capitalization amount in 2017 (3 points)? - What is the average expenditure in 2018 (4 points)? - What is the interest capitalization for 2018 only (4 points)? - What is the total cost basis on October 31, 2018 (4 points)