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, $530,000; March 31,$630,000; June 30, $430,000; October 30, $690,000. To help finance construction, the company arranged a 10% construction loan on January 1 for $760,000. 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 13% and 6%, respectively. Assuming the company uses the specific interest 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