Your answer is incorrect. Try again. Bonita Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,860,000 on March 1, 1,260,00 n lune 1, and $3,016,770 on December 31. Bonita Company borrowed $1,198,000 on March 1 on a 5-year, 12% note to help finance construction ot the building. In addition, the company had outstanding all year a 996, S-year, $2,088,000 note payable and an 10%, 4-year, $3,308,700 note payable. Compute the weighted-average interest rate used for interest capitalization purposes. (Round answer to 2 decimaal places, eg, 7.58%.) Weighted average interest rate 10.09