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Use the following to answer questions: On February 1,2015, Spiral Co. began construction of a new warehouse. The building was finished and ready for use

Use the following to answer questions:

On February 1,2015, Spiral Co. began construction of a new warehouse. The building was finished and ready for use on November 30,2016. Expenditures on the project were as follows:

February 1,2015 $600,000

August 1,2015 $900,000

November 30,2015 $600,000

April 30,2016 $620,000

October 31,2016 $540,000

Spiral borrowed $700,000 on January 1,2015 and also had $4,000,000 in 11% bonds outstanding throughout both years.

1. Spiral's weighted average accumulated expenditures for 2015 was:

A)$600,000

B)$925,000

C)$1,025,000

D)$2,100,000

E)None of the above.The answer is___________

2. Spiral's capitalized interest in 2015 was:

A)$37,500

B)$57,812

C)$68,812

D)$197,750

E)None of the above. The answer is______________

3. The average accumulated expenditure for 2016 by the end of the capitalization period was:

A)$2,153,177

B)$2,224,792

C)$2,331,667

D)$3,790,825

E)None of the above. The answer is_____________

4. What was the final historical cost of Spiral's warehouse?

A)$3,430,199

B)$3,593,075

C)$3,672,575

D)$3,790,825

E)None of the above. The answer is___________

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