On January 1, 2020, Coronado Industries purchased land for an office site by paying $2710000 cash. Coronado began construction on the office building on January 1. The following expenditures were incurred for construction:

Date		Expenditures
January 1, 2020		$ 1780000
April 1, 2020		2540000
May 1, 2020		4500000
June 1, 2020		4760000

The office was completed and ready for occupancy on July 1. To help pay for construction, and purchase of land $3640000 was borrowed on January 1, 2020 on a 9%, 3-year note payable. Other than the construction note, the only debt outstanding during 2020 was a $1510000, 12%, 6-year note payable dated January 1, 2020. Assume the weighted-average accumulated expenditures for the construction project are $4350000. The amount of interest cost to be capitalized during 2020 is

$454200.

$391500.

$508800.

$412800.