0/1 Question 1 of 3 Skysong Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $5,000,800 on January 1, 2017. Skysong expected to complete the building by December 31, 2017. Skysong has the following debt obligations outstanding during the construction period. Construction loan-12% Interest, payable semiannually, issued December 31, 2016 $1.994,600 Short term loan-10% interest, payable monthly, and principal payable at maturity on May 30, 2018 1,593,100 Long-term loan-11% interest, payable on January 1 of each year, Principal payable on January 1, 2021 995.900 * Your answer is incorrect. Assume that Skysong completed the office and warehouse building on December 31, 2017, as planned at a total cost of $5,236,900, and the weighted average amount of accumulated expenditures was $3,795,900. Compute the avoidable intere on this project. (Use interest rates rounded to 2 decimal places, eg. 7.58% for computational purposes and round final answers to decimal places, eg: 5,275.) Avoidable interest 5 388928