Could you please help me with this accounting question? Thank you!

Monty A.. is a book distributor that had been operating in its original facility since 1985 . The increase in certification programs and continuing education requirements in several professions has contributed to an annual growth rate of 15\% for Monty since 2017. Monty' original facility became obsolete by early 2022 because of the increased sales volume and the fact that Monty now carries CDs in addition to books. On June 1, 2022, Monty contracted with Black Construction to have a new building constructed for 4,560,000 on land owned by Monty. The payments made by Monty to Black Construction are shown in the schedule below. Construction was completed, and the building was ready for occupancy on May 27, 2023. Monty had no new borrowings directly associated with the new building but had the following debt outstanding at May 31, 2023, the end of its fiscal year. 10%,5-year note payable of 2,280,000, dated April 1, 2019, with interest payable annually on April 1. 12%,10-year bond issue of 3,420,000 sold at par on June 30,2015 , with interest payable annually on June 30 . The new building qualifies for capitalization of borrowing costs. The effect of capitalizing the interest on the new building, compared with the effect of expensing the interest, is material. Your answer is correct. Compute the average carrying amount on Monty's new building during the capitalization period. Average carrying amount eTextbook and Media Attempts: 1 of 3 us (b) Compute the borrowing cost to be capitalized on Monty's new building. (Round intermediate percentage calculation to 1 decimal place, e.g. 15.6% and final answer to 0 decimal places, e.g. 5 ,125.) Borrowing cost eTextbook and Media