J Company started construction of a new facility on January 1, 2017. J Company substantially completes the facility by December 31, 2017. J Company has the following debt outstanding: 4. $2,000,000 construction loan for the new facility that the bank issued to the co $1,400,000 long term loan issued to the company in 2016 with annual fixed interest of $1,000,000 long term loan issued to the company in 2014 with annual fixed interest of on 1/1/2017 with annual fixed interest of 12%. 10%. 11%. The weighted average accumulated expenditure for the project amounts to $3,600,000. Required: Determine the amount of avoidable interest cost for 2017