Culver Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $4,320,000 on March 1, $2,880,000 on June 1, and $7,200,000 on December 31. Culver Company borrowed $2,400,000 on March 1 on a 5-year, 10% note to help finance construction of the building. In addition, the company had outstanding all year a 12%, 5-year, $4,800,000 note payable and an 11%, 4-year, $8,400,000 note payable. Compute avoidable interest for Culver Company. Use the weighted-average interest rate for interest capitalization purposes. (Round "Weighted- average interest rate" to 4 decimal places, eg. 0.2152 and final answer to O decimal places, eg. 5,275) Avoidable interest $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer