On January 1, 2019, the company obtained a $3 million loan with a 12% interest rate. The building was completed on September 30, 2020. Expenditures on the project were as follows:

January 1, 2019	$	1,330,000
March 1, 2019		780,000
June 30, 2019		230,000
October 1, 2019		660,000
January 31, 2020		540,000
April 30, 2020		855,000
August 31, 2020		1,440,000

On January 1, 2019, the company obtained a $3 million construction loan with a 12% interest rate. Assume the $3 million loan is not specifically tied to construction of the building. The loan was outstanding all of 2019 and 2020. The companys other interest-bearing debt included two long-term notes of $4,600,000 and $6,600,000 with interest rates of 6% and 8%, respectively. Both notes were outstanding during all of 2019 and 2020. Interest is paid annually on all debt. The companys fiscal year-end is December 31. Required: 1. Calculate the amount of interest that Mason should capitalize in 2019 and 2020 using the weighted-average method. 2. What is the total cost of the building? 3. Calculate the amount of interest expense that will appear in the 2019 and 2020 income statements.