Don't give answer in image format Sage Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditureswere $1,824,000 on March 1, $1,224,000 on June 1, and $3,030,540 on December 31.Sage Company borrowed $1,082,950 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 9%, 5-year, $2,046,800 note payable and an 10%, 4-year, $3,555,500 note payable.Compute the weighted-average interest rate used for interest capitalization purposes. (Round answer to 2 decimal places,e.g. 7.58%.)Weighted-average interest rate%

Notes payable is a financial instrument that facilitates the company to borrow or the purchase the…

Answered: Weighted-average interest rate do %

Business

Accounting

Weighted-average interest rate do %

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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