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 $1,2024$ $ $1,680,000$

March $1,20241,260,000$

June $30,20241,460,000$

October $1,20241,260,000$

January $31,2025369,000$

April $30,2025702,000$

August $31,2025999,000$

On January $1,2024,$ the company obtained a $$4,000,000$ construction loan with a $12\%$ interest rate. The loan was outstanding all of $2024$ and $2025.$ The company$$s other interest$-$bearing debt included two long$-$term notes of $$3,000,000$ and $$7,000,000$ with interest rates of $8\%$ and $10\%,$ 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 $31.$