Reference no: EM133086079
Question - Wildhorse Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,992,000 on March 1, $1,272,000 on June 1, and $3,020,740 on December 31.
Wildhorse Company borrowed $1,012,250 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 9%, 5-year, $2,458,400 note payable and an 10%, 4-year, $3,504,400 note payable.
Required - Compute the weighted-average interest rate used for interest capitalization purposes.
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: Wildhorse Company borrowed $1,012,250 on March 1 on a 5-year, 12% note to help finance construction of the building. Compute the weighted-average interest rate
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