48. Hawkins Corporation began construction of a motel on March 31, 2021. The project was completed on April 30, 2022. No new loans were required to fund construction. Hawkins does have the following two interest-bearing liabilities that were outstanding throughout the construction period: $ 4,000,000, 6% note $16,000,000, 10% bonds Construction expenditures incurred were as follows: March 31, 2021 $4,000,000 June 30, 2021 6,000,000 November 30, 2021 1,800,000 February 28, 2022 3,000,000 The company's fiscal year-end is December 31. Required: Calculate the amount of interest capitalized for 2021 and 2022