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:

$ 4,900,000, 6% note

$22,660,000, 10% bonds

Construction expenditures incurred were as follows:

March 31, 2016	$4,810,000
June 30, 2016	6,810,000
November 30, 2016	1,962,000
February 28, 2017	3,810,000

The companys 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