On December 31, 2016 Pronghorn Inc borrowed $4,320,000 at 13% payable annually to finance the construction of a new building In 2017, building was completed in February 2018. Additional information is provided as follows. the company made the following expenditures related to this building: March 1, $518,400; June 1, $864,000; July 1, $2,160,000; December 1, $2,160,000. The 1. Other debt outstanding 10-year, 14% bond, December 31, 2010, interest payable annually 6-year, 11% note, dated December 31, 2014, interest payable annually $5,760,000 52,304,000 2. March 1, 2017, expenditure included land costs of $216,000 3. Interest revenue earned in 2017 $70,560 Your answer is incorrect. Try again. Determine the amount of interest to be capitalized in 2017 in relation to the construction of the building. The amount of interest