Capitalization of Interest, Specific Debt. Mariah Corporation is constructing a new wind power-generating facility. Construction began on january 2 and was completed on december 31 of the current year. Mariah made the following expenditures during the year:

Date	Amount
January 2	$500,000
August 1	400,000
October 1	1,200,000
Dec 1	100,000

To specifically finance the project. Mariah issued $2,200,000 of 2-year,8% notes payable on January 2. Interest is payable annually on December 31 each year. It earned interest income of $3,00 from investing the proceeds of the notes during the year. What amount of the interest can Mariah capitalize during the year?