What is the interest amount to capitalize

Reference no: EM133370156

Question: Biotyme Corporation began constructing a new plant facility in 2025. The building is expected to be completed on October 1, 2025. 2025 payments to the contractor are $200,000 on January 4, $300,000 on April 1, $350,000 on July 1 and $120,000 on September 1. Biotech has secured a construction loan of $500,000 at 5% interest on January 4, 2025. Biotyme has no other debt outstanding. What is the interest amount to capitalize?

Reference no: EM133370156

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