On January 1, 2021, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2022. Expenditures on the project were as follows:

January 1, 2021	$	331,000
September 1, 2021	$	492,000
December 31, 2021	$	492,000
March 31, 2022	$	492,000
September 30, 2022	$	331,000

Dreamworld had $6,400,000 in 12% bonds outstanding through both years. The average accumulated expenditures for 2022 by the end of the construction period was:

Multiple Choice

• $2,138,000.

• $1,374,400.

• $1,702,400.

• $1,068,250.