Question 2 of 16

Question 2 of 16 View Policies Current Attempt in Progress - / 0.5 Ivanhoe Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $ on March 1, $ 1,284,000 on June 1, and $ 3,024,560 on December 31. Ivanhoe Company borrowed $ 1,101,510 on March 1 ona 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 5-year, $ 2,417,700 note payable and an 11%, 4-year, $ 3,702,800 note payable. Compute the weighted-average interest rate used for interest capitalization purposes. (Round answer to 2 decimal places, e.g. 7.58%.) Weighted-average interest rate eTextbook and Media Save for Later J Using multiple attempts will impact your score. 70% score reduction after attempt 1 Attempts: O of 2 used Submit Answer