Question $32$

$3\mathrm{.}45$ pts

Koch Industries is constructing a building. Construction began on January $1$ and was completed on December $31.$ Expenditures were $$6,400,000$ on March $1,$$$5,280,000$ on June $1,$ and $$8,000,000$ on December $31.$ Koch borrowed $$3,200,000$ on January $1$ on a $5-$year, $12\%$ note to help finance construction of the building. In addition, the company had outstanding all year a $10\%,3-$year, $$6,400,000$ note payable and an $11\%,4-$year, $$12,000,000$ note payable.

How much is the weighted$-$average accumulated expenditure?

$$8,413,333$

$$19,680,000$

$$9,840,000$

$$11,680,000$