1. Capitalization of Interest During 2020, Mask Makers Inc. constructed various assets at a total cost of $15,000,000. The weighted average accumulated expenditures on assets qualifying for capitalization of interest during 2020 were $10,000,000. The company had the following debt outstanding at December 31, 2020: 1. 10%, 5-year note to finance SPECIFIC construction of various assets, dated January 1, 2020, with interest payable annually on January 1 $6,500,000 2. 12%, ten-year bonds issued at par on December 31, 2014, with interest payable annually on December 7,000,000 3. 9%, 3-year note payable, dated January 1, 2019, with interest payable annually on January 1 4,000,000 Instructions Compute the amounts of each of the following (show computations) 1. Avoidable interest. 2. Total interest to be capitalized during 2020