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Warner Corporation began constructing a new warehouse for its operations during the current year. In the year Warner incurred interest of $30,000 on a working
Warner Corporation began constructing a new warehouse for its operations during the current year. In the year Warner incurred interest of $30,000 on a working capital (.e., non-construction) loan, and interest on a construction loan for the warehouse of $70,000. Interest computed on the average accumulated expenditures for the warehouse construction was $40,000. What amount of interest should Warner expense for the year? Multiple Choice $30,000 $100,000 $140.000 $60.000
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