View Policies Show Attempt History Current Attempt in Progress X Your answer is incorrect. Kingbird Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,944,000 on March 1, $1.224,000 on June 1, and $3,046,410 on December 31 Kingbird Company borrowed $1,191,160 on March 1 on a 5-year, 13% note to help finance construction of the building In addition. the company had outstanding all year a 9%, 5-year, $2,480,600 note payable and an 10%, 4-year, $3,847,200 note payable. Compute the weighted average interest rate used for interest capitalization purposes. (Round answer to 2 decimal places, e.g. 7.58%). Weighted average interest rate eTextbook and Media Save for Later 14.89 % Attempts: 1 of 3 used Submit