Your client is in the planning phase of a major plant expansion which will involve the construction of a new warehouse. The assistant controller does not believe that interest cost can be included in the cost of the warehouse because it is a financing expense. Others on the planning team believe that some interest cost can be included in the cost of the warehouse but no one could indentify the specific authoritative guidance for this issue. Your supervisor asks you to research this issue Is it permissible to capitalize interest into the cost of assets?