A building was constructed last year for Agri Co$.$ for use as a production facility.

Construction began on January $1$ and was completed on December $31.$ The payments to the contractor

were as follows.

Date Payment

$1/1$ $$600,000$

$3/31700,000$

$9/301,000,000$

$11/1800,000$

To finance construction of the building, a $$1,500,000,12\%$ construction loan was taken out on January $1.$

The loan was repaid on December $31.$ The firm had two sources of general debt: $$800,000$ note payable,

$8\%$ annual interest, and $$1,200,000$ par value bonds, $10\%$ annual interest.

Determine the amount of interest to be capitalized