On January 1, 2016, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September 30, 2017 Expenditures on the project were as follows: January 1, 2016 March 1, 2016 June 30, 2016 October 1, 2016 January 31, 2017 April 30, 2017 August 31, 2017 $1,200,000 690,000 450,000 660,000 945,000 1,260,000 2,250,000 On January 1, 2016, the company obtained a $3 million construction loan with a 12% interest rate. The loan was outstanding all of 2016 and 2017. The company's other interest-bearing debt included two long-term notes of $5,500,000 and $7,500,000 with interest rates of 7% and 9%, respectively Both notes were outstanding during all of 2016 and 2017. Interest is paid annually on all debt. The company's fiscal year-end is December 31. Assume the $3 million loan is not specifically tied to construction of the building Required: 1. Calculate the amount of interest that Mason should capitalize in 2016 and 2017 using the weighted- average method. (Do not round intermediate calculations. Round your answers to the nearest whole dollars.) Answer is complete but not entirely correct. 2017 158,863 2016 Interest capitalized S 192,252