12. On June 1, 2017, the Refract Company began construction of a new manufacturing plant. The plant was completed on October 31, 2018. Expenditures on the project were as follows ($ in millions): July 1, 2017 54 October 1, 2017 22 February 1, 2018 30 April 1, 2018 21 September 1, 201820 October 1, 2018 6 On July 1, 2017, Refract obtained a $70 million construction loan with a 6% Interest rate. The loan was outstanding through the end of October, 2018. The company's only other interest-bearing debt was a long-term note for $100 million with an interest rate of 8%. This note was outstanding during all of 2017 and 2018. The company's fiscal year-end is December 31. What's the amount of interest that Refract should capitalize in 2018, rounded to the nearest thousand dollars, using the specific interest method? Type here to search O