A company constructs a building for its own use. Construction began on January 1 and ended on December 30. The expenditures for construction were as follows: January 1, $660,000; March 31, $760,000; June 30, $560,000; October 30, $1,080,000. To help finance construction, the company arranged a 7% construction loan on January 1 for $1,020,000. The companys other borrowings, outstanding for the whole year, consisted of a $2 million loan and a $4 million note with interest rates of 9% and 6%, respectively.

PLEASE HELP ME SOLVE THE SECOND PART! THANK YOU

Date	Expenditure		Weight			Average
January 1	$660,000		12/12		=	$660,000
March 31	760,000		9/12		=	570,000
June 30	560,000		6/12		=	280,000
October 30	1,080,000		2/12		=	180,000
Accumulated expenditures	$3,060,000					$1,690,000
	Average		Interest Rate			Capitalized Interest
Average accumulated expenditures	$1,690,000
				%	=	$0
				%	=	0
						$0