Exercise 10-8 (Part Level Submission) On December 31, 2016, Stellar Inc. borrowed $3,180,000 at 12% payable annually to finance the construction of a new building. In 2017, the company made the following expenditures related to this building: March 1, $381,600; June 1, $636,000; July 1, $1,590,000; December 1, $1,590,000. The building was completed in February 2018. Additional information is provided as follows 1. Other debt outstanding 10-year, 13% bond, December 31, 2010, interest payable annually 6-year, 10% note, dated December 31, 2014, interest payable annually $4,240,000 $1,696,000 2. March 1, 2017, expenditure included land costs of $159,000 3. Interest revenue earned in 2017 $51,940 (a) Determine the amount of interest to be capitalized in 2017 in relation to the construction of the building. The amount of interests