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ABC Co has the following bank loans outstanding during the whole of 20X7 which form the company's genernal borrowings for the year:

$m
9% loan repayable 20X9 20
12% loan repayable 20Y2 48

ABC Co began construction of a qualifying asset on 1 April 20X7 and $12 million of the loan funding was transferred to the construction project on that date to fund construction. On 1 August 20X7, an aditional $4 million was trasferred for the same purpose.




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