During 2023, Blossom Company constructed various assets at a total cost of $4.10 million. The weighted-average accumulated expenditures on assets qualifying for capitalization of interest during 2023 were $2.80 million. The company had the following debts outstanding at December 31, 2023:

1.		8%, five-year note to finance construction of various assets, dated January 1, 2023, with interest payable annually on January 1 $1,780,000
2.		10%, ten-year bonds issued at par on December 31, 2018, with interest payable annually on December 31 $2,040,000
3.		7%, three-year note payable, dated January 1, 2022, with interest payable annually on January 1 $1,020,000

Calculate the total interest to be capitalized for 2023.

Total interest to be capitalized