On January $1,2024,$ the Shagri Company began construction on a new manufacturing facility for its own use. The building was completed in $2025.$ The only interest$-$bearing debt the company had outstanding during $2024$ was long$-$term bonds with a book value of $$10,000,000$ and an effective interest rate of $8\%.$ Construction expenditures incurred during $2024$ were as follows:

January $1$ $ $500,000$

March $1600,000$

July $31480,000$

September $30600,000$

December $31300,000$

Required:

Calculate the amount of interest capitalized for $2024.\backslash$table$[[$Date$,$Expenditure,,Weight,,Average$],[$January $1,,x,,=,],[$March $1,,x,,=,],[$July $31,,x,,=,],[$September $30,,x,,=,],[$December $31,,x,,=,],[$Accumulated expenditure$],[,$Amount,,Interest Rate,,$\backslash$table$[[$Capitalized$],[$Interest$]]],[$Average accumulated expenditures,,$x,\%,,]]$