On January $1,2024,$ the Highlands Company began construction on a new manufacturing facility for its own use. The building was completed in $2025.$ The company borrowed $$1,600,000$ at $9\%$ on January $1$ to help finance the construction. In addition to the construction loan, Highlands had the following debt outstanding throughout $2024$ :

$$5,000,000,13\%$ bonds

$$3,000,000,9\%$ long$-$term note

Construction expenditures incurred during $2024$ were as follows:

$\backslash$table$[[$January $1,$$$700,000$

please answer the required.