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Windsor Company is constructing a building. Construction began on February 1 and was completed on December 31 . Expenditures were $1,980,000 on March 1, $1,320,000
Windsor Company is constructing a building. Construction began on February 1 and was completed on December 31 . Expenditures were $1,980,000 on March 1, $1,320,000 on June 1 and $3,300,000 on December 31 . Windsor Company borrowed $1,100,000 on March 1 on a 5-year, 10% note to help finance construction of the building, In addition. the company had outstanding all year a 12%,5-year, $2,200,000 note payable and an 11%,4-year, $3,850,000 note payable. Compute avoidabie interest for Windsor Company. Use the weighted-average interest rate for interest capitalization purposes. (Round "Weighted-average interest rate" to 4 decimal places, es. 0.2152 and final answer to 0 decimal places, e.g. 5.275.) Avoidable interest $
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