Sea has an 8 percent three year construction loan of, Accounting Basics

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Sea has an 8 percent three year construction loan of

Problem

Sea Manufacturing Corp is constructing a new factory budding During the current calendar year. Sea made the following payments to the construction company. Sea has an 8 percent. three year construction loan of $3,000,000. What is the amount of interest costs that Sea may capitalize during the current year?

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Accounting Basics: Sea has an 8 percent three year construction loan of

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