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Mathematics, 29.11.2019 01:31 lilly420

Acompany with a june 30 fiscal year end entered into a $3,000,000 construction project on april 1 to be completed on september 30. the cumulative construction-in-progress balances at april 30, may 31, and june 30 were $500,000, $800,000, and $1,500,000, respectively. the interest rate on company debt used to finance the construction project was 5% from april 1 through june 30 and 6% from july 1 through september 30. assuming that the asset is placed into service on october 1, what amount of interest should be capitalized to the project on june 30?

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