MetlockFurniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $3,500,000 on January 1, 2020. Metlock expected to complete the building by December 31, 2020. Metlock has the following debt obligations outstanding during the construction period. Construction loan-12% interest, payable semiannually, issued December 31, 2019 Short-term loan-10% interest, payable monthly, and principal payable at maturity on May 30, 2021 Long-term loan-11% interest, payable on January 1 of each year. Principal payable on January 1, 2024 $1,400,000 980,000 700,000 (a) * Your answer is incorrect. Assume that Metlock completed the office and warehouse building on December 31, 2020, as planned at a total cost of $3,640,000, and the weighted average amount of accumulated expenditures was $2,520,000. Compute the avoidable interest on this project. (Use interest rates rounded to 2 decimal places, eg. 7.58% for computational purposes and round final answers to decimal places, eg. 5,275.) Avoidable Interest $ 134210 Save for Later Attempts: 1 of 2 used Submit