Interest During Construction Dexter Construction Corporation is building a student condominium complex; it started construction on January 1, Year 1. Dexter borrowed $1 million specifically for the project by issuing a 10\%, 5-yeat, $1 million note, which is payable on December 31 of Year 3 . Dexter also had a 12%,5year,$3 million note payable and a 10%,10-year, $1.8 million note payable outstanding all year. In Year 1 , Dexter incurred costs as follows: Calculate Dexter's capitalized interest on the student condominium complex for Year 1. Capitalized interest =$ x