On January 1, 2020, Desert Company purchased land for an office site by paying $2,700,000 cash. Desert began construction on the office building on February 1st. The following expenditures were incurred for construction: Date March 1, 2020 Expenditure $1,800,000 April 1, 2020 $2,520,000 May 1, 2020 $4,500,000 June 1, 2020 $4,800,000 The office was completed and ready for occupancy on July 1. To help pay for construction, $3,600,000 was borrowed on March 1, 2020, on a 9%, 3-year note payable. Desert had no other outstanding debt. The weighted-average-accumulated-expenditures on the construction project during 2020 were: O $3,515,000 O $3,280,000 O $2,380,000 O $4,640,000