Company furniture started construction of a combination office and warehouse building for its own use at an estimated cost of 4,380,000 on January 1, 2022. Company expected to complete the building by December 31, 2022. Company has the following debt obligations outstanding during the construction period.

Construction loan-14% interest, payable semiannually, issued December 31, 2021 - $1,790,000

Short-term loan-12% interest, payable monthly, and principal payable at maturity on May 30, 2023 - $1,432,000

Long term loan-13% interest, payable on January 1 of each year. Principal payable on January 1, 2026 - $895,000

A)

Assume that Company completed the office and warehouse building on December 31, 2022 as planned at a total cost of 4,654,000. The following expenditures were made during- the period for this project; January 1, 895,000; April 1, 1,295,000; July 1, 1,695,000; and October 1, 560,000. Excess funds from the construction loans were invested during the period and earned 19,800 of investment income. Compute the amount of borrowing costs to be capitalized for this project

Borrowing Costs $.is .............?