Capitalization of Interest Self-Constructed Assets Public Utility Inc. Assume that Public Utility Inc. is engaged in the construction of a nuclear power station. Construction started June 1, 2018. The project was completed December 31, 2018 Expenditures related to the construction are as follows: (in 000's) June 1, 2018 August 1, 2018 October 31, 2018 Total $200,000 300,000 400,000 for the project. No other funds were borrowed for the building project. However, Public Utility I had a long-term note outstanding for S 1,000,000 at g%, and 12% bonds (sold at par) outstanding in the amount of $2,000,000 during construction of the building. Instructions: Determine the amount of interest that Public Utility Inc. may capitalize for the year 2018