Metlock Furniture Company started construction of a combination office and warehouse buailding for its own use at an estimated cost of $7,500,000 on January 1, 2025. Metlock expected to complete the building by December 31, 2025. Metiock has the following debt obligations outstanding during the construction period. Construction loan-12\% interest, payable semiannually, issued December 31,2024 Short-term loan-10\% interest, payable monthly, and princlpal payable at maturity on May 30,2026 2,250,000 Long-term loan-11\% interest, payable on January 1 of each year: principal payable on January 1,20291,500,000 Assume that Metlock completed the office and warehouse building on December 31,2025 , as planned, at a total cost of $7,800,000, and the weighted-average amount of accumulated expenditures was $5,400,000. Compute the avoidabie intere this project. (Use interest rates rounded to 2 decimal places, e.g. 7.58% for computational purposes and round final answers to 0 dec places,e.g. 5,275.) Avoidable interest Attempts: 1 of 3 (b) X Your answer is incorrect. Compute the depreciation expense for the year ended December 31, 2026. Metlock elected to depreciate the building on a straight-line basis and determined that the asset has a useful life of 30 years and a salvage value of $450,000. (Round answer to 0 decimal places, e.g. 5,275.)