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How much is the capitalized interest

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Question - Go Kong Company decided to construct its own building. the total expenditures until completion amounted to 5,000,000, of which 1,000,000 was paid on January 2, 2019, and the remaining amount of 4,000,000 was incurred evenly throughout the year.

A 10% note directly related to the project (specific borrowing) was issued on January 2, 2019, with a face value of 2,000,000. During 2019, borrowings not directly related to the project were: 5,000,000, 5-year, 12% note and 2,000,000, 3-year, 8.5% note. How much is the capitalized interest for 2019?

Reference no: EM132975720

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