D Use the information below to answer the following questions related to calculating capitalized interest, preparing the appropriate journal entries, and the appropriate depreciation amounts. Show your work to enable me to provide you with partial credit, and clearly label your answer. The Gus Bus Company decides to build a factory in Auburn, Alabama. On January 1, 2019, the company takes out a Ipan in the amount of $1,000,000 at a rate of 10% specifically to finance the project. Construction of the factory also began on January 1, 2019 with the following incurred costs during 2019: $800,000 were incurred on January 1, 2019. $400,000 were incurred on April 1, 2019, and $600,000 were incurred on October 1, 2019. The company has two other outstanding loans: (1) $2,000,000 loan at a rate of 12%, and (2) $4,000,000 loan at a rate of 6%. Construction was completed on December 31, 2019. The factory was placed into service on January 1, 2020 and will be depreciated over 20 years using the straight-line method with a residual value of $250,000.