On January 1, 2018, the Shagri Company began construction on a new manufacturing facility for its own use. The building was completed in 2019. The only interest-bearing debt the company had outstanding during 2018 was long-term bonds with a book value of $10,600,000 and an effective interest rate of 9%. Construction expenditures incurred during 2018 were as follows:

January 1	$	560,000
March 1		636,000
July 31		516,000
September 30		660,000
December 31		360,000

Required: Calculate the amount of interest capitalized for 2018.