Problem 10-10 Interest capitalization; weighted-average method [L010-7 ason Manufacturing Company began construction of a building to be used as its ofie headquarters. The building was completed on September 30, 2019. Expenditures on the project were as follows: $1,000,e0 600,000 800,000 600,000 270,000 85,000 00,000 anuary 1, 2018 March 1, 2018 une 30, 2018 October 1, 2018 anuary 31, 2019 April 30, 2019- August 31, 2019 On January 1, 2018, the company obtained a $3 million construction loan with a 10% interest rate. The loan was outstanding a and 2019. The company's other interest-bearing of 6% and 8% respectively. Both notes were outstanding during all of 2018 and 2019 Interest is paid annually on all debt. The company's fiscal year-end is December 31 l of 2018 h interest rates Required: 1. Calculate the amount of interest that Mason should capitalize in 2018 and 2019 using the weighted-average 2. What is the total cost of the building? 3. Calculate the amount of interest expense that will appear in the 2018 and 2019 income statements. Complete this question by entering your answers in the tabs below