Ivanhoe Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $6,000,000 on January 1, 2020/Ivanhoe expected to complete the building by December 31, 2020, Ivanhoe has the following debt obligations outstanding during the construction period $2.400.000 Construction loan 12% interest, payable semiannually, issued December 31, 2019 Short-term loan-10% interest. payable monthly, and principal payable at maturity on May 30, 2021 Long termoan 11% interest, pavable on January 1 of cach year Principal payable on January 1, 2024 1.800,000 1,200,000 Assume that Ivanhoe completed the office and warehouse building on December 31, 2020 as planned at a total costo 56 240.000, and the weighted averase amount of accumulated expenditures was 54.320,000 Compute the avoidable interest on this project. (Use interest rates founded to 2 decimal places, eg7.58for computational purposes and round final answer to 0 decimal doces. c. 5.275.) Avoidable Interest Compute the depreciation expense for the year ended December 31, 2021. Ivanhoe elected to depreciate the building on a straight-line basis and determined that the asset has a useful life of 30 years and a salvage value of $360,000 (Round answer to decimal places, s. 5,275.) Depreciation Expense