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, $520,000; March 31,$620,000; June 30,$420,000; October 30,$660,000. The company arranged a 9% loan on January 1 for $740,000. Assume the $740,000 loan is not specifically tied to the construction of the building. The company's other borrowings, outstanding for the whole year, consisted of a $4 million loan and a \$6 million note with interest rates of 10% and 6%, respectively. Assuming the company uses the weighted-average method, calculate the amount of interest capitalized for the year. Note: Enter your answers in whole dollars and not in millions. Do not round intermediate calculations. Round your percentage answers to 2 decimal places (i.e. 0.1234 should be entered as 12.34% )