Metlock Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $3.420,000 on March 1, $2,280,000on June 1, and $5,700,000 on December 31. Metlock Company borrowed $1,900,000 on March 1 on a 5-year, 10% note to help finance construction of the building. In addition, the company had outstanding all year a12%,5-year, $3,800,000note payable and an 11%,4-year, $6,650,000note payable. Compute avoidable interest for Metlock 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 $ $