4) The Troy Company began construction on a new building to use in its business on January 1, of the current year (CY). (15 points) Below is data related to Troy: Borrowings: January 1, CY Construction Loan: $2,300,000 13% Prior NP: 1,800,000 14% Prior NP: 1,200,000 9% Interest is payable each December 31 on all three borrowings. Expenditures / Payments to contractors Apr. 1. CY $2,200,000 Jul. 1. CY 1,600,000 Oct. 1, CY 1,000,000 Dec. 1, CY 1,200,000 A. Calculate the amount of interest that Troy will capitalize for the year if the Specific Method is used. B. How much interest should be charged to expense? C. Prepare the journal entries to record the self-constructed asset and interest for the year, assuming no interest had previously been recorded