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 $2026760

August 31, 2017 2838497

December 31, 2017 2522394

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

$1703805 of 10-year, 11% bonds payable, issued at par on May 31, 2017, with interest payable annually on May 31.

286291 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 $409659, 8% note payable dated January 1, 2013 and due January 1, 2023, with interest payable annually on January 1.

Instructions

Compute the amount of the weighted-average accumulated expenditures qualifying for capitalization of interest cost.