Swifty Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $ 2,052,000 on March 1, $ 1.200,000 on June 1, and $ 3.007 200 on December 31. Swifty Company borrowed $ 1,042,720 on March 1 on a 5-year, 13% note to help finance construction of the building. In addition, the company had outstanding all year a 9%, 5-year. $ 2,039,800 note payable and an 10%, 4-year $ 3,462,500 note payable. Compute the weighted average interest rate used for interest capitalization purposes. (Round answer to 2 decimal places, eg. 7.58%.) Weighted-average interest rate eTextbook and Media Save for Later Attempts: 0 of 3 used Submit