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 $10,200,000 and an effective interest rate of 10%. Construction expenditures incurred during 2018 were as follows January 1 March1 July 31 September 30 December 31 $520,0ee 612,000 492,00e 620,e00 320,000 Required Calculate the amount of interest capitalized for 2018 Date Expenditure Weight Average January 1 March 1 July 31 September 30 December 31 Accumulated expenditure 0 0 Capitalized Interest Average Interest Rate Average accumulated expenditures