Doggy Co. began construction of a new cutter for the U.S. Coast Guard on January 1, 20X1 and completed construction of the ship on October 31, 20X2. To finance construction, Doggy took out an $8,000,000, 2-year, 6% construction loan on February 1, 20X1. Interest on the loan was to be paid annually on the anniversary date of the loan. Doggy has no other outstanding interest-bearing debt. Doggy made the following expenditures in conjunction with this construction project:

Date	Amount
2/1/20X1	$	1,050,000
3/31/20X1		900,000
6/1/20X1		750,000
10/1/20X1		1,000,000
12/31/20X1		600,000
3/1/20X2		900,000
9/1/20X2		250,000

What is the amount of Doggys cumulative weighted average expenditures during 20X2 related to the cutter project?