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 $10,800,000 and an effective interest rate of 11%. Construction expenditures incurred during 2018 were as follows: Tanuary 1 March 1 July 31 September 30 December 31 580,000 648,000 528,000 680,000 380,000 Required Calculate the amount of interest capitalized for 2018. diture Weight January 1 March 1 July 31 September 30 December 31 Average Interest Rate Capitalized Average