Vaughn Manufacturing is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6400000 on March 1, $5300000 on June 1, and $8550000 on December 31. Vaughn Manufacturing borrowed $3240000 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, $6440000 note payable and an 11%, 4-year, $12450000 note payable. What is the weighted-average interest rate used for interest capitalization purposes? 10.66% 10.51% 11.00% O 10.86% Save for Later