Construction began on January 1, 2019 and the building was completed on July 1, 2020.January 1, 2019$1,300,000January 1, 2020$950,000April 1, 2019$500,000May 1, 2020$1,200,000June 1, 2019$450,000Building complete July 1, 2020July 1, 2019 $950,000October 1, 2019$550,000On January 1, 2012, ALMO obtained a $5,000,000 construction loan with a 10% interest rate. The loan was outstanding for 2012 and 2013. The companys other interest-bearing debt included two long-term notes of $8,000,000 and $7,000,000 with interest rates of 8% and 7%, respectively. Both notes were outstanding during all of 2012 and 2013. Interest is paid annually on all debt. The companys fiscal year end is December 31.REQUIRED: For 2012 and 2013, what is the amount of interest ALMO should capitalize and what is the cost of the building? (Use the Specific Interest Method and the Weighted-Avg Method to calculate interest)

If the average approach is used the amount of interest capitalized for 2019 should be?

Using the information above if the average approach is used the total cost capitalized for the building at completion would be?

Please show your work.

Thanks.