During 2025, Sheridan Company constructed assets costing $3900000. The weighted-average accumulated expenditures on these assets during 2025 was $2440000. To help pay for construction, $1760000 was borrowed at 9% on January 1, 2025, and funds not needed for construction were temporarily invested in short-term securities, yielding $39000 in interest revenue. Other than the construction funds borrowed, the only other debt outstanding during the year was a $1920000, 10-year, 8% note payable dated January 1, 2019. Interest is payable on both notes at December 31, 2025. What is the amount of interest that should be capitalized by Sheridan during 2025?