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Swifty Corporation is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6350000 on March 1, $5330000 on
Swifty Corporation is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6350000 on March 1, $5330000 on June 1, and $8450000 on December 31. Swifty Corporation borrowed $3200000 on January 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 3-year, $6420000 note payable and an 11%, 4-year, $12850000 note payable. What is the avoidable interest for Swifty Corporation? O $384000 $1237809 O $438391 $938929
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