Interest Capitalization (30 points) On January 1, 2018, the George Orwell Manufacturing Company began construction of a library. The building was completed on August 31, 2019. Expenditures on the project were as follows: January 1, 2018 $900,000 March 1, 2018 400,000 August 30, 2018 200,000 October 31, 2018 500,000 February 28, 2019 300,000 April 30, 2019 700,000 July 31, 2019 200,000 On January 1, 2018, the company obtained a $1,500,000 construction loan with a 5% interest rate. The loan was outstanding all of 2018 and 2019. The company's other interest-bearing debt included two long-term notes of $3,000,000 and $2,000,000 with interest rates of 7% and 4%, respectively. All notes were outstanding during all of 2018 and 2019. Interest is paid annually on all debt. The company's fiscal year-end is December 31 How much will Orwell record for the value of the building in 2018 and 2019 assuming they use the weighted average interest capitalization method