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Compute the amount of interest that Agasse would capitalize

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Reference no: EM133042405

Problem - Agasse Industries began construction of a new facility and took out a $1,500,000, 12% construction loan on April 1, 2021. Agasse made payments to the general contractor of $445,000 on April 1, $945,000 on August 31, and $545,000 on December 31. Compute the amount of interest that Agasse would capitalize in 2021.

Reference no: EM133042405

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