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During 2007, Gannon Co

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During 2007, Gannon Co.incurred average accumulated expenditures of $400,000 during construction of assets that qualified for capitalization of interest.The only debt outstanding during 2007 was a $500,000, 10%, 5-year note payable dated January 1, 2005.What is the amount of interest that should be capitalized by Gannon during 2007?

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In the context of scientific research, control refers to the standard to which comparisons are made in an experiment.

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The state or condition of being free from unauthorized intrusion into one’s personal information or affairs.

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