1. On March 1, Mocl Co. began construction of a small building. The following expenditures were incurred for construction:

March 1 $150,000 April 1 $148,000

May 1 360,000 June 1 540,000

July 1 200,000

The building was completed and occupied on July 1. To help pay for construction $100,000 was borrowed on March 1 on a 12%, three-year note payable. The only other debt outstanding during the year was a $1,000,000, 10% note issued two years ago.

Calculate the weighted-average accumulated expenditures.