Interest During Construction Dexter Construction Corporation is building a student condominium complex; it started construction on January 1, Year 1. Dexter borrowed $2.5 million on January 1 specifically for the project by issuing a 10%, 5-year, $2.5 million note, which is payable on December 31 of Year 3. Dexter also had a 12%, 5-year, $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: January 1 March 1 June 30 November 1 $300,000 600,000 1,000,000 480,000 Calculate Dexter's weighted average accumulated expenditures. Weighted average accumulated expenditures = $ 138,000 X