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Construction began on January 1, 2019 and the building was completed on December 31, 2020.

January 1, 2019 $1,400,000	January 1, 2020 $3,000,000
March 31, 2019 $900,000	April 30, 2020 $900,000
June 30, 2019 $800,000	September 30, 2020 $800,000
July 31, 2019 $600,000	Building complete December 31, 2020
September 1, 2019 $750,000

On January 1, 2019, ALMO obtained a $8,000,000 construction loan with a 5% interest rate. The loan was outstanding for 2019 and 2020. The companys other interest-bearing debt included two long-term notes of $4,000,000 and $4,000,000 with interest rates of 8% and 7%, respectively. Both notes were outstanding during all of 2019 and 2020. Interest is paid annually on all debt. The companys fiscal year end is December 31.

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Question 3

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Using the information above, if the specific interest approach is used the amount of interest capitalized for 2019 should be? (use whole dollars with no dollar sign but include commas)