Compute the amount of the avoidable interest incurred during 2017.

Early in 2017, Dobbs Corporation engaged Kiner, Inc. to design and construct a complete modernization of Dobbs's manufacturing facility. Construction was begun on June 1, 2017 and was completed on December 31, 2017. Dobbs made the following payments to Kiner, Inc. during 2017: Date Payment $1899634 2930857 2418220 June 1, 2017 August 31, 2017 December 31, 2017 In order to help finance the construction, Dobbs issued the following during 2017: 1. $1545863 of 10-year, 10% bonds payable, issued at par on May 31, 2017, with interest payable annually on May 31 2. 292144 shares of no-par common stock, issued at $10 per share on October 1, 2017. In addition to the 10% bonds payable, the only debt outstanding during 2017 was a $48 753, 8% note payable dated January 1, 2013 and due January 1, 2023, with interest payable annually on January 1. Instructions Compute the amount of the avoidable interest incurred during 2017