On January $1,2024,$ the Marjlee Company began construction of an office building to be used as its corporate headquarters. The building was completed early in $2025.$ Construction expenditures for $2024,$ which were incurred evenly throughout the year, totaled $$7,200,000.$ Marjlee had the following debt obligations which were outstanding during all of $2024$ :

$\backslash$table$[[$Construction loan, $11\%,$$$1,800,000$