On January $1,2024,$ the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September $30,2025.$ Expenditures on the project were as follows:

January $1,2024$ $ $2,050,000$

March $1,20241,800,000$

June $30,20242,000,000$

October $1,20241,800,000$

January $31,2025450,000$

April $30,2025783,000$

August $31,20251,080,000$

On January $1,2024,$ the company obtained a $$5,000,000$ construction loan with a $9\%$ interest rate. The loan was outstanding all of $2024$ and $2025.$ The company$$s other interest$-$bearing debt included two long$-$term notes of $$6,000,000$ and $$9,000,000$ with interest rates of $5\%$ and $8\%,$ respectively. Both notes were outstanding during all of $2024$ and $2025.$ Interest is paid annually on all debt. The company$$s fiscal year$-$end is December $31.$