Novak Company is constructing a building. Construction began on February 1 and was completed on December 31 Expenditures were $1,932,000 on March 1, $1,212,000 on June 1, and $3,028,100 on December 31. Novak Company borrowed $1,149,500 on March 1 on a 5-year, 13% note to help finance construction of the building. In addition, the company had outstanding all year a 9%, 5-year, $2,270,700 note payable and an 10%, 4-year, $3,429,100 note payable. Compute avoidable interest for Novak Company. Use the weighted-average interest rate for interest capitalization purposes. (Round percentages to 2 decimal places, eg. 2.51% and final answer to decimal places, e.g. 5,275.) Avoidable interest 263494