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How much interest does Bone Thugs-n-Harmony capitalize

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Question - Bone Thugs-n-Harmony incurs the expenditures listed below for constructing its corporate headquarters. They took out a $250,000 loan at 8% for the construction. They also have 2 additional loans: 500,000 at 10%, 200,000 at 6%. All loans were outstanding as of 1/1/2019 and were still outstanding when construction was completed on 4/30/2020.

Date - Expenditure

1/1/2019 - $100,000.00

9/1/2019 - $360,000.00

1/1/2020 - $400,000.00

3/1/2020 - $120,000.00

Required - How much interest does Bone Thugs-n-Harmony capitalize in 2020?

Reference no: EM132530391

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