On January 1, 2016, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2017. Expenditures on the project were as follows:

January 1, 2016	$341,000
September 1, 2016	$507,000
December 31, 2016	$507,000
March 31, 2017	$507,000
September 30, 2017	$341,000

Dreamworld had $6,900,000 in 12% bonds outstanding through both years.

The average accumulated expenditures for 2017 by the end of the construction period was:

$1,100,750.

$2,203,000.

$1,416,200.

$1,754,200.