During 2017, Barden Building Company constructed various assets at a total cost of $14,700,000. The weighted average accumulated expenditures on assets qualifying for capitalization of interest during 2017 were $9,800,000. The company had the following debt outstanding at December 31, 2017:

1.10%, 5-year note to finance construction of various assets,

dated January 1, 2017, with interest payable annually on January 1 $6,300,000

2.12%, ten-year bonds issued at par on December 31, 2011, with interest

payable annually on December 317,000,000

3.9%, 3-year note payable, dated January 1, 2016, with interest payable

annually on January 13,500,000

Instructions

Compute the amount of "Avoidable interest".