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What is the amount of interest that should be capitalized

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Question 1: During 2017, Sheffield Corp. incurred weighted-average accumulated expenditures of $1740000 during construction of assets that qualified for capitalization of interest. The only debt outstanding during 2017 was a $2090000, 11%, 5-year note payable dated January 1, 2017. What is the amount of interest that should be capitalized by Sheffield during 2017?

Option a) $0.

Option b) $38500.

Option c) $229900.

Option d) $191400.

Reference no: EM132568665

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