Business, 06.05.2020 00:08 missalawode28

Wildhorse Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,812,000 on March 1, $1,212,000 on June 1, and $3,007,840 on December 31.

Wildhorse Company borrowed $1,004,930 on March 1 on a 5-year, 13% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 5-year, $2,200,900 note payable and an 11%, 4-year, $3,365,100 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:
Concord Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,920,000 on March 1, $1,200,000 on June 1, and $3,070,300 on December 31.

Concord Company borrowed $1,041,900 on March 1 on a 5-year, 13% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 5-year, $2,227,300 note payable and an 11%, 4-year, $3,799,000 note payable. Compute avoidable interest for Concord Company. Use the weighted-average interest rate for interest capitalization purposes. (Round percentages to 2 decimal places, e. g. 2.51% and final answer to 0 decimal places, e. g. 5,275.)

Avoidable interest:

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Wildhorse Company is constructing a building. Construction began on February 1 and was completed on...