Interest During Construction Dexter Construction Corporation is bullding o 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 milion note payable and a 10%,10-year, $1.8 million note payable outstanding all year. In Year 1 , Dexter incurred costs as follows: Calculate Dexter's weighted average accumulated expenditures. Weighted average accumulated expenditures =4 Calculate Dexter's capitalized interest on the student condominium complex for Year 1. Capitalized interest =$