Multiple Choice
Use the following information for questions 82 through 85.
On January 2, 2014, Indian River Groves began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2015. Expenditures for the construction were as follows: Indian River Groves borrowed $2,200,000 on a construction loan at 12% interest on January 2, 2014. This loan was outstanding during the construction period. The company also had $8,000,000 in 9% bonds outstanding in 2014 and 2015.
-What were the weighted-average accumulated expenditures for 2014?
A) $1,066,667
B) $1,000,000
C) $800,000
D) $2,000,000
Correct Answer:

Verified
Correct Answer:
Verified
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