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

$$9,900,000.$ Marjlee had the following debt obligations which were outstanding during all of $2024$ :

Required:

Calculate the amount of interest capitalized in $2024$ for the building using the specific interest method.

Interest capitalized