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Robinhood Corporation is constructing a new wind power-generating facility. Construction began on January 2 and was completed on December 31 of the current year. Robinhood
Robinhood Corporation is constructing a new wind power-generating facility. Construction began on January 2 and was completed on December 31 of the current year. Robinhood made the following expenditures during the year: EEB (Click the icon to view expenditures.) To specifically finance the p e Robinhood issued $3.200,000 o 2-year 7% notes payable on January 2 Interest is payable annually on December 31 each year. It eamed interest income o $6,000 from investing the proceeds of the note during the year. What amount of interest can Robinhood capitalize during the year? Let's begin by calculating the weighted-average accumulated expenditures for the current year. (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar.) Date Current Year) January 2 August 1 October 1 December 1 Accumulated Expenditures 550,000 162,500 306,250 86,250 1,106,000 Expenditure Table Date January 2 August 1 October 1 Amount $550,000 390,000 1,225,000 1,035,000 Now, determine the amount of interest to be capitalized by Robinhood Corporation. Round your answer to the nearest whole dollar.) The interest to be capitalized is $ Print Done
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