On January 1, 2016, Dreamworld Co. began construction of a new warehouse. The building was finished...

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On January 1, 2016, Dreamworld Co. began construction of a new warehouse. The building was finished...

On January 1, 2016, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2017. Expenditures on the project were as follows:

January 1, 2016	$320,000
September 1, 2016	$480,000
December 31, 2016	$480,000
March 31, 2017	$480,000
September 30, 2017	$320,000

Dreamworld had $6,000,000 in 14% bonds outstanding through both years.

Dreamworld's capitalized interest in 2016 was:

Multiple Choice

$44,800.
$67,200.
$78,400.
$89,600.

business accounting

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