On December 31, 2019, Sheridan Inc. borrowed $4,260,000 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, $511,200; June 1, $852,000; July 1, $2,130,000; December 1, $2,130,000. The building was completed in February 2021. Additional information is provided as follows. (a) Determine the amount of interest to be capitalized in 2020 in relation to the construction of the building. The amount of interest $