Question 1 building by December 31, 2017. Metlock's debt, all f which was outstanding during the construction period, was as follows. . Construction loan-11.00% interest, payable semiannually, issued December 31, 2016; ss,200,000 construction of a manufacturing facility for its own use at an estimated cost of $10,400,000 on J anuary 1, 2017. Metlock expected to complete the Long-term loan #1-10.00% interest, payable on January 1 of each year. Principal payable on January 1, 2019; $1,560,000 Long-term loan #2-12.00% interest, payable on December 31 of each year, principal parable on December 3, 2025, sooooo (a) Your answer is correct. Assume that Metlock completed the facility on December 31, 2017, at a total cost of $:0,712.000, and the weighted average amount of accumulated Compute the avoldable interest on this project, (Use interest rates rounded to 2 decimal places, e.g. 7.s Avoidable Interest expenditures was $7,072,000. 8% and round final answer to 0 decimal places, eq. S275)