Expenditures on the project were as follows

Reference no: EM131020985

On January 1, 2016, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2017. Expenditures on the project were as follows:

January 1, 2016	$330,000
September 1, 2016	$495,000
December 31, 2016	$495,000
March 31, 2017	$495,000
September 30, 2017	$330,000

Dreamworld had $6,500,000 in 12% bonds outstanding through both years.
Dreamworld's capitalized interest in 2016 was:
$39,600.
$79,200.
$59,400.
$69,300.

Reference no: EM131020985

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