Concord Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $4,500,000 on January 1, 2025. Concord expected to complete the building by December 31,2025 . Concord has the following debt obligations outstanding during the construction period. Construction loan-12\% interest, payable semiannually, issued December 31, 2024 $1,800,000 Short-term loan-10\% interest, payable monthly, and principal payable at maturity on May 30, 20261,350,000 Long-term loan-11\% interest, payable on January 1 of each year; principal payable on January 1, 2029900,000 (a) Assume that Concord completed the office and warehouse building on December 31, 2025, as planned, at a total cost of $4,680,000, and the weighted-average amount of accumulated expenditures was $3,240,000. Compute the avoidable interest on this project. (Use interest rates rounded to 2 decimal places, e.g. 7.58% for computational purposes and round final answers to 0 decimal places, e.g. 5,275.)