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 |
$313,000 |
| September 1, 2016 |
$465,000 |
| December 31, 2016 |
$465,000 |
| March 31, 2017 |
$465,000 |
| September 30, 2017 |
$313,000 |
Dreamworld had $5,500,000 in 15% bonds outstanding through both years.
Dreamworld's capitalized interest in 2016 was:
$93,900.
$46,950.
$81,938.
$70,200.