Hawkins Corporation began construction of a motel on March 31, 2016. The project was completed on April 31, 2017. No new loans were required to fund construction. Hawkins does have the following two interest-bearing liabilities that were outstanding throughout the construction period: $ 4,500,000, 6% note $19,700,000, 10% bonds Construction expenditures incurred were as follows: March 31, 2016 $4,450,000 June 30, 2016 6,450,000 November 30, 1,890,000 2016 February 28, 2017 3,450,000 The company's fiscal year-end is December 31. Required: Calculate the amount of interest capitalized for 2016 and 2017. (Round weighted average interest rate to 2 decimal places and final answers to the nearest whole dollar.) 2016 2017 Amount of interest