Weighted average accumulated expenditures are $1,200,000 on a project for which work steadily progressed during the current year. The following debt was outstanding during the current year. Construction loan Note payable Mortgage payable $300,000 at 10% $1,500,000 at 8% $450.000 at 12% a. Compute the total actual interest expense for the current year. b. Compute the weighted average interest rate on the general debt.