Solved: Hanson company see be10-2 borrowed 1000000 on march 1 on a, Accounting Basics

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Hanson company see be10-2 borrowed 1000000 on march 1 on a

1. Hanson Company (see BE10-2) borrowed $1,000,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 5-year, $2,000,000 note payable and an 11%, 4-year, $3,500,000 note payable. Compute the weighted-average interest rate used for interest capitalization purposes.

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Accounting Basics: Hanson company see be10-2 borrowed 1000000 on march 1 on a

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