Question 1 of 8 -/15 Situation 1 On January 1, 2020, Larkspur, Inc. signed a fixed-price contract to have Builder Associates construct a major plant facility at a cost of $4,400,000. It was estimated that it would take 3 years to complete the project. Also on January 1, 2020, to finance the construction cost, Larkspur borrowed $4,400,000 payable in 10 annual installments of $440,000, plus interest at the rate of 10% During 2020, Larkspur made deposit and progress payments totaling $1,650,000 under the contract; the weighted-average amount of accumulated expenditures was $880,000 for the year. The excess borrowed funds were invested in short-term securities, from which Larkspur realized investment income of $251.900. What amount should Larkspur report as capitalized interest at December 31, 2020? Capitalized interests eTextbook and Media Attempts: 0 of 2 used Submit Answer Sve for Using multiple attempts will impact your score 20% score reduction after attempt 1