Exercise 10-25 Interest capitalization; multiple periods [LO10-7] Thornton Industries began construction of a warehouse on July 1, 2018. The project was completed on March 31, 2019. No new loans were required to fund construction. Thornton does have the following two interest- bearing liabilities that were outstanding throughout the construction period: $4,000,000, 9% note $6,000,000, 68 bonds Construction expenditures incurred were as follows: $ 430,000 630,000 630,000 570,000 July 1, 2018 September 30, 2018 November 30, 2018 January 30, 2019 The company's fiscal year-end is December 31. Required: Calculate the amount of interest capitalized for 2018 and 2019