Kingbird Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $4,320,000on March 1, $2,880,000on June 1, and $7,200,000on December 31.

Kingbird Company borrowed $2,400,000on March 1 on a5-year,12% note to help finance construction of the building. In addition, the company had outstanding all year a8%,5-year, $4,800,000note payable and an11%,4-year, $8,400,000note payable. Compute avoidable interest for Kingbird Company. Use the weighted-average interest rate for interest capitalization purposes.(Round "Weighted-average interest rate" to 4 decimal places, e.g. 0.2152 and final answer to 0 decimal places, e.g. 5,275.)

avoidable interest=.....