Merage Inc. needs a new school building and decides to build one in sunny southern California. The building will be quite elegant and will house state-of-the-art technology. As a consequence, Merage projects it will take two years to construct the building. To finance the project during construction, Merage borrows $2,000,000,000 at 2% interest from the Bank of California on January 1, 2012. It pays Irvine Construction Company $1,000,000,000 on January 1, 2012 to begin work on the building, $500,000,000 on December 31, 2012 as a progress payment, and $500,000,000 on December 31, 2013 when the building is completed. Merage invests all spare cash from the loan in marketable securities that yield 3%. How much interest should Merage capitalize as a result of these activities if Merage uses IFRS? How much interest should Merage capitalize as a result of these activities if Merage uses US GAAP?