Alzparker Company Constructed a Building at a Total Actual Cost

Multiple Choice

Alzparker Company constructed a building at a total actual cost of $30,000,000. Weighted-average accumulated expenditures during the construction period amounted to $23,000,000. As a result of financing arrangements, actual interest was $1,820,000, and avoidable interest was $1,600,000. What is the capitalized cost of the building?

A) $24,820,000
B) $31,600,000
C) $31,820,000
D) $33,420,000