Hawkins Corporation began construction of a motel on March 31, 2021. The project was completed on April 30, 2022. No new loans were required to fund construction. Hawkins does have the following two interest-bearing liabilities that were outstanding throughout the construction period: $5,700,000, 6% note $9,380,000, 10% bonds Construction expenditures incurred were as follows: March 31, 2021 June 30, 2021 November 30, 2021 February 28, 2022 $3,370,000 5,370,000 1,674,000 2,370,000 The company's fiscal year-end is December 31. Required: Calculate the amount of interest capitalized for 2021 and 2022. (Round weighted average interest rate to 2 decimal places and final answers to the nearest whole dollar.) Answer is complete but not entirely correct. 2021 2022 Amount of interest $ 248,888 $ 322,066 X