Green Infrastructure Development: On May 1, 2027, GreenVista Ltd. contracted EcoBuilders to construct a new green infrastructure project for $9,000,000. GreenVista made payments for the construction as follows: July 1, $1,800,000, September 1, $2,700,000, and December 31, $4,500,000. The construction was completed, and the project was ready for use on December 31, 2027. GreenVista had the following outstanding debt as of December 31, 2027:

i) A 8% three-year note to finance construction of the project, dated December 31, 2026, with interest payable annually on December 31. Principal amount: $5,000,000.

ii) A 5% five-year note payable, dated December 31, 2025, with interest payable annually on December 31. Principal amount: $4,000,000.

Required: i) Determine the amount of interest to be capitalized in 2027 in relation to the construction of the project. ii) Prepare journal entries for GreenVista Ltd. during 2027.