During 2023, Sheridan Company constructed various assets at a total cost of $5.20 million. The weighted-average accumulated expenditures on assets qualifying for capitalization of interest during 2023 were $3.80 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$1,940,000 2. 10%, ten-year bonds issued at par on December 31,2018 , with interest payable annually on December 31$3,720,000 3. 7%, three-year note payable, dated January 1,2022 , with interest payable annually on January 1$1,860,000 (a) Calculate the avoidable interest for 2023. (Round answer to 0 decimal places, e.g. 1,525.)