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What is the capitalized interest added to the cost

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Problem - The D Company self constructed an asset for its own use. Construction started on January 1, 2020 and the asset was completed on December 31, 2020. Costs incurred during the year were as follows:

January 1- P 400,000 April- 500,000 August1 - 480,000 December 1- 180,000

If the company had a two year, 18% loan of P 500,000, specially obtained to finance the asset construction, what is the capitalized interest added to the cost of the self-constructed asset?

Reference no: EM133028684

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