Extracted text: Early in 2020, ACY Limited engaged a contractor to design and construct a new warehouse. The warehouse was completed and ready for use in early 2021. ACY Limited incurred the following expenditures for the construction. March 1, 2020 $ 90,000 April 1, 2020 May 31, 2020 July 1, 2020 December 31, 2020 72,000 75,000 70,000 200,000 ACY Limited had the following debt outstanding on December 31, 2020. 1. 12%, 3-year note to finance the construction of this warehouse, dated January 1, 2020, with interest payable annually on December 31 2. 12%, 10-year bonds issued at par on December 31, 2015, with interest payable annually on December 31 3. 9%, 3-year note payable, dated January 1, 2019, with interest payable annually on December 31 S 150,000 400,000 200,000 Requirement: A. Advise ACY Limited how to account for the interest incurred related to the warehouse in 2020. Support your answers with detailed calculation.