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werbed Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $10.000.000 on January 1

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werbed Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $10.000.000 on January 1 2020 verbed expected to complete the building by December 31, 2020. Riverbed has the following debt obligations outstanding during the construction period. Construction loan-10% interest, payable semiannually, issued December 31, 2019 Short-term loan-8% interest, payable monthly, and principal payable at maturity on May 30,2021 Long-term loan.9% interest. payable on January 1 of each year. Principal payable on January 1, 2024 $4.000.000 2,800,000 2.000.000 X Your awwer is incorrect Assume that Riverbed completed the office and warehouse building on December 31, 2020, as planned at a total cost of $10.400.000, and the weighted average amount of accumulated expenditures was 57.200,000. Compute the avoidable interest on this project. Use interest rates rounded to decimal places 7.5825% for computational purposes and round final answers to decimal places, eg: 5,275.) Avoidable Interest $ 669440 NOC 51 Type here to search

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