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Coronadofurniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $15,000,000 on January 1,2020. Coronado

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Coronadofurniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $15,000,000 on January 1,2020. Coronado expected to complete the building by December 31,2020 . Coronado has the following debt obligations outstanding during the construction period. (a) Assume that Coronado completed the office and warehouse building on December 31, 2020, as planned at a total cost of $15,600,000, and the weighted-average amount of alcumulated expenditures was $10,800,000. Compute the avoidable interest on this project. (Use interest rates rounded to 2 decimal places, e.s. 7.58% for computational purposes and round final answers to 0 decimal places, e.s. 5,275.) Avoidable Interest $

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