To finance the construction of its office premises a mortgage loan of £4,000,000 was raised on 1 February 2012, at 9% interest per annum. The property was acquired on 15 February for £1,500,000. The construction commenced on 1 March and was completed by 30 October at a total cost of £2,800,000. The premises were not occupied until 1 December. How much of the mortgage interest incurred in 2012 should be capitalised?

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a £387,000 b £252,000 c £168,000 d £360,000