Early in 2017, Dobbs Corporation engaged Kiner, Inc. to design and construct a complete modernization of Dobbs's manufacturing facility. Construction was begun on June 1, 2017 and was completed on December 31, 2017. Dobbs made the following payments to Kiner, Inc. during 2017:

Date Payment

June 1, 2017 $2024227

August 31, 2017 2825610

December 31, 2017 2376706

In order to help finance the construction, Dobbs issued the following during 2017:

$1936612 of 10-year, 11% bonds payable, issued at par on May 31, 2017, with interest payable annually on May 31.

287327 shares of no-par common stock, issued at $10 per share on October 1, 2017.

In addition to the 11% bonds payable, the only debt outstanding during 2017 was a $432384, 10% note payable dated January 1, 2013 and due January 1, 2023, with interest payable annually on January 1.

Instructions

Compute the amount of the total amount of interest cost to be capitalized during 2017.