Business, 16.01.2020 00:31, ajm1132005

Pharoah company is constructing a building. construction began on february 1 and was completed on december 31. expenditures were $1,848,000 on march 1, $1,248,000 on june 1, and $3,019,800 on december 31.

pharoah company borrowed $1,112,400 on march 1 on a 5-year, 13% note to finance construction of the building. in addition, the company had outstanding all year a 10%, 5-year, $2,326,800 note payable and an 11%, 4-year, $3,400,300 note payable. compute avoidable interest for pharoah 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 247439

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Pharoah company is constructing a building. construction began on february 1 and was completed on de...