During 2023, Maria Building Company constructed various assets at a total cost of $4,000,000. The weighted average accumulated expenditures on assets qualifying for capitalization of interest during 2023 were $2,200,000. The company had the following debt outstanding at December 31, 2023:

1) 8%, 5-year note to finance construction of various assets, dated January 1, 2023, with interest payable annually on January 1 $1,500,000

2) 10%, ten-year bonds issued at par on December 31, 2018, with interest payable annually on December 31 $2,100,000

3) 7%, 3-year note payable, dated January 1, 2022, with interest payable annually on January 1 $700,000

Compute the amounts of each of the following:

a) Avoidable interest Total interest to be capitalized during 2023

b) Total interest to be capitalized during 2023