Question 21

On January 2, 2020, Crane Company began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2021. Expenditures for the construction were as follows:

January 2, 2020	$ 604000
September 1, 2020	1800000
December 31, 2020	1800000
March 31, 2021	1800000
September 30, 2021	1197000

Crane Company borrowed $3350000 on a construction loan at 13% interest on January 2, 2020. This loan was outstanding during the construction period. The company also had $12100000 in 10% bonds outstanding in 2020 and 2021. What were the weighted-average accumulated expenditures for 2020?