On December 31, 2016, Marin Inc. borrowed $3,900,000 at 12% payable annually to finance the construction of a new building. In 2017, the company made the following expenditures related to this building: March 1, $468,000; June 1, $780,000; July 1, $1,950,000; December 1, $1,950,000. The building was completed in February 2018. Additional information is provided as follows. 1. Other debt outstanding 10-year, 13% bond, December 31, 2010, interest payable annually $5,200,000 6-year, 10% note, dated December 31, 2014, interest payable annually $2,080,000 2. March 1, 2017, expenditure included land costs of $195,000 3. Interest revenue earned in 2017 $63,700 Collapse question part (a) Determine the amount of interest to be capitalized in 2017 in relation to the construction of the building. The amount of interest $