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Shamrock Company is constructing a building Construction began on February 1 and was completed on December 31 Expenditures were $3.960,000 on March 1 $2.640.000 on
Shamrock Company is constructing a building Construction began on February 1 and was completed on December 31 Expenditures were $3.960,000 on March 1 $2.640.000 on June 1, and $6,600,000 on December 31 Shamrock Company borrowed $2,200,000 on March 1 on a 5-year, 10% note to help finance construction of the building In addition the company had outstanding all year a 12% 5-year. $4,400,000 note payable and an 11%, 4-year, 57.700.000 note payable Compute avoidable interest for Shamrock Company, Use the weighted average interest rate for interest capitalization purposes. (Round "Weighted average Interest rate" to 4 decimal places, eg, 0.2152 and final answer to O decimal places, es. 5.275) Avoidable interest $
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