Use the Following Information for Questions

question 84

Multiple Choice

Use the following information for questions.
On January 2, 2010, Indian River Groves began construction of a new citrus processing plant.The automated plant was finished and ready for use on September 30, 2011.Expenditures for the construction were as follows:
Indian River Groves borrowed $1,100,000 on a construction loan at 12% interest on January 2, 2010.This loan was outstanding during the construction period.The company also had $4,000,000 in 9% bonds outstanding in 2010 and 2011.
-What were the weighted-average accumulated expenditures for 2010?

• A)$533,333
• B)$500,000
• C)$400,000
• D)$1,000,000

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