On December 31, 2019, Pronghorn Inc. borrowed $3,180,000 at 12% payable annually to finance the construction of a new building. In 2020, the company made the following expenditures related to this building: March 1, $381,600: June 1, $636,000; July 1, $1,590,000; December 1, $1.590,000. The building was completed in February 2021. Additional information is provided as follows. 1. Other debt outstanding 10-year, 13% bond, December 31, 2013, interest payable annually $4,240,000 6-year, 10% note, dated December 31, 2017, interest payable annually $1,696,000 2. March 1, 2020, expenditure included land costs of $159,000 3. Interest revenue earned in 2020 $51.940 (a) * Your answer is incorrect. 2 Determine the amount of interest to be capitalized in 2020 in relation to the construction of the building. The amount of interest $ 720800