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SwiftyFurniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $2,500,000 on January 1, 2020.

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SwiftyFurniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $2,500,000 on January 1, 2020. Swifty expected to complete the building by December 31,2020 . Swifty has the foliowing debt obligations outstanding during the construction period. (a) Assume that Swifty completed the office and warchouse building on December 31,2020 , as planned at a total cost of $2,600,000, and the weighted-average amount of accumulated expenditures was $1,800,000. Compute the avoidable interest on this project. (Use interest rates rounded to 2 decimal ploces, e. 7.58% for computational purposes and round final answers to 0 decimal places, e.g. 5.275.) Avoldable Interest

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