2021 2022 Calculate the amount of interest capitalized for 2022. (Do not round the intermediate calculations. Round your percentage answers to 1 decimal place (i.e. 0.123 should be entered as 12.3%).) Date January 1, 2022 January 30, 2022 Expenditure Weight x $ 0 Average = = $ 0 Amount Interest Rate Capitalized Interest Average accumulated expenditures $ 0 % = $ 0 2021 2022 Calculate the amount of interest capitalized for 2021. (Do not round the intermediate calculations. Round your percentage answers to 1 decimal place (i.e. 0.123 should be entered as 12.3%).) Date July 1, 2021 September 30, 2021 November 30, 2021 Expenditure Accumulated expenditures $ 0 X Weight 0/6 = || Amount Interest Rate Average accumulated expenditures $ 0 % X = || = Average $ 0 = Capitalized Interest $ 0 Thornton Industries began construction of a warehouse on July 1, 2021. The project was completed on March 31, 2022. No new loans were required to fund construction. Thornton does have the following two interest-bearing liabilities that were outstanding throughout the construction period: $1,000,000, 12% note $4,000,000, 8% bonds Construction expenditures incurred were as follows: July 1, 2021 September 30, 2021 November 30, 2021 January 30, 2022 $ 600,000 900,000 900,000 840,000 The company's fiscal year-end is December 31. Required: Calculate the amount of interest capitalized for 2021 and 2022