* Your answer is incorrect. Bonita Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,896,000 on March 1, $1,296,000 on June 1, and $3,094,220 on December 31. Bonita Company borrowed $1,028,960 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, $2,013,900 note payable and an 11%, 4-year, $3,826,400 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 eTextbook and Media Save for Later 11.345 % Attempts: 2 of 3 used Submit Answer
* Your answer is incorrect. Bonita Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,896,000 on March 1, $1,296,000 on June 1, and $3,094,220 on December 31. Bonita Company borrowed $1,028,960 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, $2,013,900 note payable and an 11%, 4-year, $3,826,400 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 eTextbook and Media Save for Later 11.345 % Attempts: 2 of 3 used Submit Answer
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Subject: acounting
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* Your answer is incorrect.
Bonita Company is constructing a building. Construction began on February 1 and was completed on December 31.
Expenditures were $1,896,000 on March 1, $1,296,000 on June 1, and $3,094,220 on December 31.
Bonita Company borrowed $1,028,960 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, $2,013,900 note payable and an 11%, 4-year,
$3,826,400 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
eTextbook and Media
Save for Later
11.345 %
Attempts: 2 of 3 used
Submit Answer
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