Question 1 Swifty Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $4,975,900 on January 1, 2017. Swifty expected to complete the building by December 31, 2017. Swifty has the following debt obligations outstanding during the construction period. Construction loan-10% interest, payable semiannually, issued December 31, 2016 Short-term loan-8% interest, payable monthly, and principal payable at maturity on May 30, 2018 Long-term loan-9% interest, payable on January 1 of each year. Principal payable on January 1, 2021 $1,988,800 1,609,500 996,100 (a) ] Your answer is incorrect. Try again. Assume that Swifty completed the office and warehouse building on December 31, 2017, as planned at a total cost of $5,235,200, and the weighted-average amount of accumulated expenditures was $3,818,100. Compute the avoidable interest on this project. (Use interest rates rounded to 2 decimal places, e.g. 7.58% for computational purposes and round final answers to 0 decimal places, e.g. 5,275.) Avoidable Interest 417116 Attempts: 2 of s sedSAVE FOR LATER SUBMIT ANSWER SUBMIT ANSWER The parts of this question must be completed in order. This part will be available when you complete the part above