On January 1, 2020 Suzanne Company began construction of a new warehouse. The building was finished and ready for use on December 31, 2020. Suzanne spent, $4,650,000 on the building. These expenditures were made evenly throughout the year (the weighted-average accumulated expenditures (WAAE) are $2,325,000). Suzanne's only outstanding interest-bearing debt throughout 2020 was a $5,000,000 note payable. The interest rate on this debt was 6%.

What amount of interest expense should be reported on Suzanne's income statement in 2020?

a) $300,000

b) $160,500

c) $139,500

d) $21,000

e) $279,000