January 1, 2024, the Mason Manufacturing Company began construction of a bullding to be used as its office headquarters. The buliding was completed on September 30, 2025. Expenditures on the project were as follows: On January 1, 2024, the company obtained a $4,200,000 construction loan with a 16% interest rate. The loan was outstanding all of 2024 and 2025 . The company's other interest-bearing debt included two long-term notes of $4,000,000 and $6,000,000 with interest rates of 12% and 14%, respectively. Both notes were outstanding during all of 2024 and 2025 . Interest is paid annually on all debt. The company's fiscal year-end is December 31 Required: 1. Calculate the amount of interest that Mason should capitalize in 2024 and 2025 using the specific interest method. 2. What is the total cost of the building? 3. Calculate the amount of interest expense thot will oppeor in the 2024 and 2025 income statements. 1. Calculate the amount of interest that Mason should capitalize in 2024 and 2025 using the specific interest method. 2. What is the total cost of the bulding? 3. Calculate the amount of interest expense that will appear in the 2024 and 2025 income statements. Complete this question by entering your answers in the tabs below. 1. Calculate the amount of interest that Mason should capitalize in 2024 and 2025 using the specific interest method. 3. Calculate the amount of interest expense that will appear in the 2024 and 2025 income statements. Note: Enter your answers in whole dollars and not in millions. Do not round intermediate calculations? 1. Calculate the amount of interest that Mason should capitalize in 2024 and 2025 using the specific interest method. 2. What is the total cost of the building? 3. Calculate the amount of interest expense that will appear in the 2024 and 2025 income statements. Complete this question by entering your answers in the tabs below. What is the total cost of the building? Note: Enter your answers in whole dollars and not in millions. Do not round intermedlate calculations