On January 1, 2018, the Mason Manufacturing Company began construction of a building to be used as its ofce headquarters. The building was completed on September 30, 2019. Expenditures on the project were as follows: January 1, 2618 $1,740,888 March 1, 2918 1,380,969 June 39, 2915 1,599,939 october 1, 2915 1,399,999 January 31, 2619 382,999 April 39, 2919 729,999 August 31, 2919 1,911,939 On January 1, 2018, the company obtained a $4,300,000 construction loan with a 12% interest rate. The loan was outstanding all of 2018 and 2019. The company's other interestbearing debt included two longterm 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 scal yearend is December 31. Required: 1. Calculate the amount of interest that Mason should capitalize in 2018 and 2019 using the specic 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. Complete this question by entering your answers in the labs below. Rea land 3 - Calculate the amount of interest that Mason should capitalize in 2018 and 2019 using the specic interest method and interest expense that will appear in the 2018 and 2019 income statements. (Enter your answers in dollars}