Metlock Company is constructing a building. Construction began on February $1$ and was completed

on December $31.$ Expenditures were $$1,908,000$ on March $1,$$$1,308,000$ on June $1,$ and

$$3,011,000$ on December $31.$

Metlock Company borrowed $$1,016,000$ on March $1$ on a $5-$year, $12\%$ note to help finance

construction of the building. In addition, the company had outstanding all year a $10\%,5-$year,

$$2,195,000$ note payable and an $11\%,4-$year, $$3,605,000$ 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$.0\mathrm{.}2152$ and final answer to $0$

decimal places, e$.$g$.5,275.)$

Avoidable interest $