During 2018, Rockman Industries, Inc. was in the process of constructing a new manufacturing facility. There were two expenditures as follow: January 1, 2018 for $2,500,000 July 1, 2018 for S1,500,000 The company had the following debt outstanding during the entire construction project: (a) 8 percent, five-year note to finance construction of the manufacturing facility dated (b) 10 percent, 20-year bonds issued at par on January 1, 2010, $8,000,000. January 1, 2018, $1,600,000. (construction-specific loan) c6 percent, six-year note payable dated March 1, 2015, $2,000,000. As of December 31,2018, the building project was not yet complete. REQUIRED: 1) Determine the amount of interest to be capitalized by Rockman Industries for 2018. 2) As of December 31, 2018, what is the balance in the Construction in Progress account for the new manufacturing facility