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On 1 january 2016 ABC limited borrowed 1.5 million to finance the production of 2 assets of which were expected to take one year to build. Work started on 2016 .the loan was drawn and started 2016 january.was utilized as follows with the remaining funds invested temporary on first july 2016.
Asset A. Asset B
1 january 2016 250. 500
1 july 2016. 250. 500
Calculate the borrowing cost to be capitalized?
Calculate the cost of asset?
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