Using the information in RE10 8 and RE10 9 calculate

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Using the information in RE10- 8 and RE10- 9, calculate Dexter’s capitalized interest on the
student condominium complex for Year 1.In RE10-8Dexter Construction Corporation is building
a student condominium complex; it started construction on January 1, Year 1. Dexter borrowed
$ 2.5 million on January 1 specifically for the project by issuing a 10%, 5- year, $ 2.5 million
note, which is payable on December 31 of Year 3. Dexter also had a 12%, 5- year, $ 3 million
note payable and a 10%, 10- year, $ 1.8 million note payable outstanding all year. Calculate the
weighted average interest rate on the non- construction- specific debt for Year 1.In
RE10-9January 1.......... $ 300,000March 1............ 600,000June 30.............
1,000,000November 1........... 480,000View Solution:
Using the information in RE10 8 and RE10 9 calculate

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