Homework answers / question archive / View Policies Current Attempt in Progress Pharosh Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $15

View Policies Current Attempt in Progress Pharosh Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $15

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View Policies Current Attempt in Progress Pharosh Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $15.000.000 on January 1, 2020. Pharoah expected to complete the building by December 31, 2020. Purch has the following debt obligations outstanding during the construction period $6,000000 Construction loan-12% Interest, payable semiannually dessed December 31, 2019 Short-term loan 10% interest, wable monthly and principal payable at maturity on May 30, 2021 Long-term loan 11% interest, payable on January 1 of each year. Principal pable on January 1, 2024 4.500.000 3.000.000 Assume that Pharoah completed the office and warehouse building on December 31, 2020, planned at a total cost of $15.600.000, and the weighted average amount of accumulated expenditures was $10.900.000. Compute the avoidable Interest on this project. (Use interest rates rounded to 2 decimal places. 7.58 for computational purposes and round final answers to o decimal places,.. 5,2753 Avoidable Interest S e textbook and Media Compute the depreciation expense for the year ended December 31, 2021. Pharoah elected to depreciate the building on a straight-line basis and determined that the asset has a useful life of 30 years and a salvage value of $900.000. (Round answer to O decimal places, eg. 5,275.) Depreciation Expense $ e Textbook and Media