hornton Industries began construction of a warehouse on July 1,2018. The project was completed on March 31, 2019. No new loans were required to fund construction. Thornton does have the following two interest-bearing liablities that were outstanding throughout the construction period: $3,000,000, $5,000,000, 6% note 2% bonds Construction expenditures incurred were as follows: July 1, 2018 Septenber 30, 2018 November 30 2018 January 30, 2019 $540,000 750,000 750,000 690,000 The company's fiscal year-end is December 31 Required Calculate the amount of interest capitalized for 2018 and 2019