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5. Montgomery Industries spent $590,000 in 2017 on a construction project to build a library. Montgomery...

5. Montgomery Industries spent $590,000 in 2017 on a construction project to build a library. Montgomery also capitalized $29,500 of interest on the project in 2017. Montgomery financed 100% of the construction with a 8% construction loan. The project was completed on September 30, 2018. Additional expenditures in 2018 were as follows: Feb. 28 $ 89,100 Apr. 30 179,100 Jul. 1 35,100 Sept. 30 63,100 Required: Determine the completed cost of the library.

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