completed in 2025 . The company borrowed \$2 200000 at 89 on Jaruary 1 to help finance the consenaction in addition fo the construction loan. Hightands had the following debt oustarding throughoun 2024 \$9,000,000, 10\% bonds $6,000,000,8% long tem note Construction expenditures incurred during 2024 were as follows Required: Calculate the amount of interest capitalized for 2024 using the specific interest method Note: Do not round the Intermedlate calculetions. Round your percentage answers to 1 declmal place (l.e. 0.123 should be entered es 123% )