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What is the amount of interest that should be capitalized

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Problem - During 2020, Bonita Industries incurred weighted-average accumulated expenditures of $1550000 during construction of assets that qualified for capitalization of interest. The only debt outstanding during 2020 was a $2050000, 11%, 5-year note payable dated January 1, 2020. What is the amount of interest that should be capitalized by Bonita during 2020?

Reference no: EM132967223

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