What is the amount of interest that should be capitalized

Reference no: EM131888384

Question: During 2017, Kimmel Co. incurred weighted-average accumulated expenditures of $1,600,000 during construction of assets that qualified for capitalization of interest. The only debt outstanding during 2017 was a $2,000,000, 10%, 5-year note payable dated January 1, 2017. What is the amount of interest that should be capitalized by Kimmel during 2017?

Reference no: EM131888384

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