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19-09-2022
Mathematics

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On january 1, sturdy machines inc. entered into a formal contract to construct a multipurpose warehouse for $15,000,000. to finance the construction project, the company immediately received an $8,000,000 construction loan from a local bank that included four $2,000,000 annual payments plus interest at 5%, with the remainder of the project financed with the company's general debt facilities at a 7% weighted average interest rate. assuming average accumulated expenses were $10,000,000 for the year and *hat actual interest costs incurred on all related borrowings was $890,000, what is the amount of capitalized interest costs recorded by the company? blank 1

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