Metlock Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $ 3,600,000 on March 1, $ 2,400,000 on June 1, and $ 6,000,000 on December 31. Metlock Company borrowed $ 2,000,000 on March 1 on a 5-year, 10% note to help finance construction of the building. In addition, the company had outstanding all year a 12%, 5-year, $ 4,000,000 note payable and an 11%, 4-year, $ 7,000,000 note 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.)