View Policies Current Attempt in Progress On January 2, 2020, Sheffield Corp. began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2021. Expenditures for the construction were as follows: January 2, 2020 September 1, 2020 $ 601000 1807200 December 31, 2020 1807200 March 31, 2021 September 30, 2021 1807200 1209000 Sheffield Corp. borrowed $3360000 on a construction loan at 10% interest on January 2, 2020. This loan was outstanding during the construction period. The company also had $11880000 in 7% bonds outstanding in 2020 and 2021. The interest capitalized for 2020 was: O $415800 O $480660 O $120340 O $138600