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Problem 10-142 Agasse Industries began construction of a new facility and took out a $1,500,000, 8% construction loan on April 1, 2018. Agasse made payments
Problem 10-142 Agasse Industries began construction of a new facility and took out a $1,500,000, 8% construction loan on April 1, 2018. Agasse made payments to the general contractor of $382,000 on April 1, $882,000 on August 31, and $482,000 on December 31. Required: Compute the amount of interest that Agasse would capitalize in 2018. (Do not round intermediate calculations.)
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