Business, 11.10.2019 20:10 Mads4865

Doggy co. began construction of a new cutter for the u. s. coast guard on january 1, 2018 and completed construction of the ship on october 31, 2019. to finance construction, doggy took out an $8,000,000, 2-year, 6% construction loan on february 1, 2018. interest on the loan was to be paid annually on the anniversary date of the loan. doggy has no other outstanding interest-bearing debt. doggy made the following expenditures in conjunction with this construction project: date - amount2/1/2014 - $1,050,0003/31/2014 - $900,0006/1/2014 - $750,00010/1/2014 - $1,000,00012/31/2014 - $600,0003/1/2015 - $900,0009/1/2015 - $250,000how much interest should doggy expense in 2014? a. $220,000 b. $300,500 c. $340,500 d. $440,000

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Doggy co. began construction of a new cutter for the u. s. coast guard on january 1, 2018 and comple...

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