On December 31, 2016, Sarasota Inc. borrowed $1,440,000 at 13% payable annually to finance the construction of a new building. In 2017, the company made the following expenditures related to this building: June 1, $576,000; July 1, $864,000; September 1, $1,728,000: December 1, $864,000. The building was completed in April 2018. Additional information is provided as follows. 1. Other debt outstanding 10-year, 11% bond, dated December 31, 2010, interest payable annually 15-year, 13% note, dated December 31, 2004, interest payable annually Interest revenue earned in 2017 $14,400,000 $3,600,000 $8,640 2. (a) Determine the amount of interest to be capitalized in 2017 in relation to the construction of the building. (Round answer to O decimal places, eg. 5,125.) The amount of interest $ Save for Later Attempts: 0 of 1 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above