Sheridan Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,872,000 on March 1, $1,272,000 on June 1, and $3,047,000 on December 31. Sheridan Company borrowed $1,008,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 9%, 5-year, $2,398,000 note payable and an 10%, 4-year, $3,715,000 note payable. Compute avoidable interest for Sheridan Company. Use the weighted-average interest rate for interest capitalization purposes. (Round weighted-average interest rate to 4 decimal places, e.g. 0.2152 and final answer to O decimal places, e.g. 5,275.) Avoidable interest $ eTextbook and Media

Sheridan Company is constructing a building. Construction began on February 1 and was completed on December 31 Expenditures were $1,872,000 on March 1, $1,272,000 on June 1 , and $3,047,000 on December 31. Sheridan Company borrowed $1,008,000 on March 1 on a 5 -year, 12% note to help finance construction of the building In addition, the company had outstanding all year a 9%,5-year, $2,398,000 note payable and an 10%,4 year, $3,715,000 note payable. Compute avoidable interest for Sheridan Company. Use the weighted-average interest rate for interest capitalization purposes. (Round weighted-average interest rate to 4 decimal places, e.g. 0.2152 and final answer to 0 decimal places, eg. 5,275. Avoidable interest