On 7/1/23, Red Corp. borrowed funds on a 9%, one-year note to finance the construction of a new building to be used for its own purposes. Construction on the project began on 8/1/23 and was completed on 11/1/23.

Rounded to the nearest whole month, how many total months in 2023 should interest be capitalized under the interest capitalization rules?

A. 3 months

B. 4 months

C. 5 months

D.6 months

E. 12 months