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Agasse Industries began construction of a new facility and took out a $1,500,000, 8% construction loan on April 1, 2016. Agasse made payments to the

Agasse Industries began construction of a new facility and took out a $1,500,000, 8% construction loan on April 1, 2016. Agasse made payments to the general contractor of $328,000 on April 1, $828,000 on August 31, and $428,000 on December 31. Required: Compute the amount of interest that Agasse would capitalize in 2016.

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