Weld Corporation is constructing a plant for its own use. Weld capitalizes interest on an annual basis. The following expenditures are made during the current year: January 1, $36,000; July 1, $348,000; September 1, $960,000; and December 31, $2,532,000. The following debts were outstanding throughout the current year.

Computing and Recording Interest Capitalization Weld Corporation is constructing a plant for its own use. Weld capitalizes interest on an annual July 1, \$348,000; September 1, $960,000; and December 31,$2,532,000. The following debts we Note: Round all of your answers to the nearest whole number or whole percentage point. a. Compute the amount of interest to be capitalized during the year