3. ABC Corporation is a construction company. It borrowed money from a bank for the construction of Building X. Building X is a qualifying asset. ABC Corporation pays interest expense on the money it borrowed. Important dates and the payments are as follows: Date Amount TL 1,000,000 Explanation Bank loan is taken, construction starts Interest is paid to the bank 1 March 2021 1 September 2021 TL 10,000 1 March 2022 TL 11,000 Interest is paid to the bank 1 May 2022 1 September 2022 TL 12,000 1 September 2022 | TL 1,000,000 Construction on Building X is complete Interest is paid to the bank Principal amount is paid back to the bank According to the IAS 23 Borrowing Costs Standard, what is the total amount of interest expense that should be capitalized? (25 points) Answer: Date Total: Amount (interest expense) Explanation Total interest expense, which should be capitalized.