On March 1, 2018, Newton Company purchased land for an office site by paying $1,800,000 cash. Newton began construction on the office building on March 1. The following expenditures were incurred for construction:Date ExpendituresMarch 1, 2018 $ 1,200,000April 1, 2018 1,680,000May 1, 2018 3,000,000June 1, 2018 7,200,000July 1, 2018 1,000,000The office was completed and ready for occupancy on July 1. To help pay for construction, $2,400,000 was borrowed on March 1, 2018 on a 9%, 3-year note payable. Other than the construction note, the only debt outstanding during 2018 was a $1,000,000, 12%, 6-year note payable dated January 1, 2022.The weighted-average accumulated expenditures on the construction project during 2018?Actual interest cost incurred during 2018?Interest capitalized during 2018?
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