During 2023, Sunland Company constructed various assets at a total cost of $4.70 million. The weighted-average accumulated expenditures on assets qualifying for capitalization of interest during 2023 were $3.20 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 $2,100,000 3. 10%, ten-year bonds issued at par on December 31, 2018, with interest payable annually on December 31 $2,200,000 7%, three-year note payable, dated January 1, 2022, with interest payable annually on January 1 $1,100,000 (a) Your answer is incorrect. Calculate the avoidable interest for 2023. (Round answer to O decimal places, e.g. 1,525.) Avoidable interest $ 465000