Hanson Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1, 812,000 an March 1, $1, 236,000 on June 1, and $3, 086r 200 on December 31. Hanson Company borrowed $1, 066, 100 on March 1 an a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 9%, 5-year, $2, 495, 700 note payable and an 10%, 4-year, $3, 760, 200 note payable. Compute avoidable interest for Hanson Company. Use the weighted-average interest rate for interest capitalization purposes