Capitalization of interest In February 2024, Quorum Corp. began the construction of a 10-
storey building. The construction is expected to be completed by January 2025.
During 2024,the following payments were made: Apr. 1: $1,00,000 Jun. 1: $1500,000
Aug. 1: $900,000Oct. 1: $950,000
No asset specific debt was incurred. During 2024, Quorum's general debt consisted of the following:
$2 million, 5%, 2-year note,$1.2 million, 4.5%,
2-year note,$0.75 million, 3%, 5-year note.
Instructionsa
.Calculate the weighted-
average accumulated expenditures for the year ended December 31, 2024
.