During 2010, Weber Co

question 55

Multiple Choice

During 2010, Weber Co.incurred average accumulated expenditures of $500,000 during construction of assets that qualified for capitalization of interest.The only debt outstanding during 2010 was a $600,000, 8%, five-year note payable dated January 1, 2008.What is the amount of interest that should be capitalized by Weber during 2010?

• A)$40,000
• B)$0
• C)$20,000
• D)$30,000

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