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please solve this question On January 1, 2021, the Shagri Company began construction on a new manufacturing facility for its own use. The building wascompleted

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image text in transcribed On January 1, 2021, the Shagri Company began construction on a new manufacturing facility for its own use. The building wascompleted In 2022. The only interest-bearing debt the company had outstanding during 2021 was long-term bonds with a book valueof $11,600,000 and an effective interest rate of 11%. Construction expenditures incurred during 2021 were as follows:January 1$660,000March 1696,000July 31576,000September 30760,000December 31460,000Required:Calculate the amount of interest capitalized for 2021.DateExpenditureWeightAverageJanuary 1=March 1July 31September 30December 31Accumulated expenditure0AverageInterestCapitalizedRateInterestAverage accumulated expenditures5S

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