Your answer is incorrect. Sweet Company is constructing a building Construction began on February 1 and was completed on December 31. Expenditures were $1.900.000 on March 1, $1,308,000 on June 1, and $3,002,130 on December 31 Sweet Company borrowed $1,197,510 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, $2,487,900 note payable and an 11% 4.year. $3.271.400 note payable Compute the weighted average interest rate used for interest capitalization purposes. (Round answer to 2 decimal places, es 758%.) Weighted average interest rate