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: $4,000,000, 6% note $16,000,000, 10% bonds Construction expenditures incurred were as follows:

March 31, 2016	$4,000,000
June 30, 2016	6,000,000
November 30, 2016	1,800,000
February 28, 2017	3,000,000

The company's fiscal year-end is December 31. Required: Calculate the amount of interest capitalized for 2016 and 2017