SweetFurniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $3,000,000 on January 1, 2020. Sweet expected to complete the building by December 31, 2020. Sweet has the following debt obligations outstanding during the construction period. Construction loan-12% interest, payable semiannually, issued December 31, 2019 Short-term loan-10% interest, payable monthly, and principal payable at maturity on May 30,2021 Long-term loan-11% interest, payable on January 1 of each year. Principal payable on January 1, 2024 $1,200,000 900,000 600.000 (a) ) Assume that Sweet completed the office and warehouse building on December 31, 2020, as planned at a total cost of $3,120,000, and the weighted-average amount of accumulated expenditures was $ 2,160.000. Compute the avoidable interest on this project. (Use interest rates rounded to 2 decimal places, e.g. 7.58% for computational purposes and round final answers to decimal places, eg. 5,275.) Avoidable Interest $ Save for Later Attempts: 0 of 9 used Submit Answer On July 31, 2020, Crane Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction begun immediately and was completed on November 1, 2020. To help finance construction, on July 31 Crane issued a $ 301,200. 3-year, 12% note payable at Netherlands National Bank on which interest is payable each July 31. $ 195,200 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in short-term marketable securities (trading securities) at 10% until November 1. On November 1, Crane made a final $ 106,000 payment to Minsk. Other than the note to Netherlands, Crane's only outstanding liability at December 31, 2020, is a $ 30,300, 8%, 6-year note payable, dated January 1, 2017, on which interest is payable each December 31. (a) Calculate the interest revenue, weighted-average accumulated expenditures, avoidable interest, and total interest cost to be capitalized during 2020. Interest revenue $ Weighted-average accumulated expenditures $ Avoidable interest $ Interest capitalized $