Concord Company is constructing a building. Construction began on February $1$ and was completed on December $31.$ Expenditures were $$1,848,000$ on March $1,$$$1,248,000$ on June $1,$ and $$3,020,000$ on December $31.$

Concord Company borrowed $$1,112,000$ on March $1$ on a $5-$year, $12\%$ note to help finance construction of the building. In addition, the company had outstanding all year a $10\%,5-$year, $$2,327,000$ note payable and an $11\%,4-$year,$$3,400,000$ note payable. Compute avoidable interest for Concord Company. Use the weighted$-$average interest rate for interest capitalization purposes. $($Round weightedaverage interest rate to $4$ decimal places, e$.$g$.0\mathrm{.}2152$ and final answer to $0$ decimal places, e$.$g$.5,275.)$

Avoidable interest

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