During 2020, Box Building Company constructed various assets at a total cost of 10,400,000. The weighted average accumulated expenditures on assets qualifying for capitalization of interest during 2020 were 6,000,000. The company had the following debt outstanding at December 31, 2020: 10%, 5-year note to finance construction of various assets, dated January 1, 2020, with interest payable annually on January 1 3,000,000 11%, ten-year bonds issued at par on December 31, 2013, with interest payable annually on December 31 4,000,000 8%, 3-year note payable, dated January 1, 2018, with interest payable annually on January 1 2,000,000 Instructions: Compute the Avoidable interest. Calculation of Avoidable interest. Weighted Applicable Average Avoidable Interest Accumulated interest Rate (%) Expenditures Total Avoidable interest