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Wildhorse Company is constructing a building. Construction began on February 1 and was completed on December 31 . Expenditures were $2,004,000 on March 1, $1,284,000

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Wildhorse Company is constructing a building. Construction began on February 1 and was completed on December 31 . Expenditures were $2,004,000 on March 1, $1,284,000 on June 1, and $3,055,000 on December 31. Wildhorse Company borrowed $1,163,000 on March 1 on a 5 -year, 12% note to help finance construction of the building in addition, the company had outstanding all year a 10%,5-year, $2,377,000 note payable and an 11%,4-year, $3,691,000 nate payable Compute avoidable interest for Wildhorse Company. Use the weighted-average interest rate for interest capitalization purposes. (Round weighted-overoge interest rate to 4 decimal places, e.8. 0.2152 and final answer to 0 decimal places, es, 5,275.) Avoidable interest

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