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Sheffield Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $11,000,000 on January 1,2025. Sheffield expected to complete the building by December 31,2025 . Sheffield 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 principal payable at maturity on May 30,2026 Long-term loan-11\% interest, payable on January 1 of each year; principal payable on January 1,2029 (a) Assume that Sheffield completed the office and warehouse building on December 31, 2025, as planned, at a total cost of $11,440,000, and the weighted-average amount of accumulated expenditures was $7,920,000. Compute the avoidable interest on this project. (Use interest rates rounded to 2 decimal places, e.g. 7.58\% for computational purposes and round final answers to 0 decimal places, e.g. 5,275.) Avoidable interest $