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Swifty Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $3,500,000 on January 1.2025.
Swifty Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $3,500,000 on January 1.2025. Swifty expected to complete the building by December 31,2025 . Swifty has the following debt obligations outstanding during the construction period. (a) Assume that Swifty completed the office and warehouse building on December 31,2025 , as planned, at a total cost of $3,640,000, and the weighted-average amount of accumulated expenditures was $2,520,000. 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 0 decimal places, e.8. 5.275.) Avoidable interest $ eTextbook and Media Attempts: 0 of 3 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above
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