On December 31, 2019, Marin Inc. borrowed $3,540,000 at 13% payable annually to finance the construction of a new building. In 2020, the company made the following expenditures related to this building: March 1, $424,800; June 1, $708,000; July 1, $1,770,000; December 1, $1,770,000. The building was completed in February 2021. Additional information is provided as follows. 1. Other debt outstanding 10-year, 14% bond, December 31, 2013, interest payable annually $4,720,000 6-year, 11% note, dated December 31, 2017, interest payable annually $1,888,000 2. March 1, 2020, expenditure included land costs of $177,000 3. Interest revenue earned in 2020 $57,820 (a) Determine the amount of interest to be capitalized in 2020 in relation to the construction of the building The amount of interest $