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Business, 31.07.2019 19:30 alexisolsennn4680

Tamarisk company is constructing a building. construction began on february 1 and was completed on december 31. expenditures were $2,004,000 on march 1, $1,284,000 on june 1, and $3,024,560 on december 31. tamarisk company borrowed $1,101,510 on march 1 on a 5-year, 12% note to finance construction of the building. in addition, the company had outstanding all year a 10%, 5-year, $2,417,700 note payable and an 11%, 4-year, $3,702,800 note payable. compute the weighted-average interest rate used for interest capitalization purposes.

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