practice final

$($i$)$

Montgomery Industries spent $$620,000$ in $2015$ on a construction project to bulld a library. Montgomery also capitalized $$31,000$ of interest on the project in $2015.$ Montgomery financed $100\%$ of the construction with a $8\%$ construction loan. The project was completed on September $30,2016.$ Additional expenditures in $2016$ were as follows:

$\backslash$table$[[,],[$Feb$.28,$$$91,800$