On January 1, 2018, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September 30, 2019. Expenditures on the project were as follows:

On January 1, 2018, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September 30, 2019 Expenditures on the project were as follows January 1, March 1, 2018 une 30, 2018 October 1, 2018 anuary 31, 2019 April 30, 2019 August 31, 2019 $1,680,000 1,260,000 1,460,000 1,260,00e 369,000 702,000 999,000 2018 On January 1, 2018, the company obtained a $4,000,000 construction loan with a 12% interest rate. The loan was outstanding all of 2018 and 2019. 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 2018 and 2019, Interest is paid annually on all debt. The company's fiscal year-end is December 31 Requirecd 1. Calculate the amount of interest that Mason should capitalize in 2018 and 2019 using the specific interest method 2. What is the total cost of the building? 3. Calculate the amount of interest expense that will appear in the 2018 and 2019 income statements Req 1 and 3 Req 2 Calculate the amount of Interest that Mason should capltalize in 2018 and 2019 using the specific Interest method and interest expense that will appear in the 2018 and 2019 income statements. (Enter your answers in dollars.) 2018 2019 Interest capitalized Interest expense Req 1 and 3 Req 2 > Complete this question by entering your answers in the tabs below. Req 1 and 3Req 2 What is the total cost of the building? (Enter your answer in dollars) Total cost of building K Req 1 and 3 Req 2 >