ACME Corporation borrowed $550,000 on December 1, 2018, to finance construction of a new office building. The interest rate on the loan was 10%. Construction began on January 1, 2019, and the building was completed in March 2020.The following payments were made in 2019 related to the building project:

January 1 Purchased the land $100,000

March 1 Made progress payment to contractor 180,000

July 1 Made progress payment to contractor 150,000

December 1 Made progress payment to contractor 72,000

How much of the interest should be expenses (back out interest to be capitalized)