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	$	340,000
September 1, 2021	$	510,000
December 31, 2021	$	510,000
March 31, 2022	$	510,000
September 30, 2022	$	340,000

Dreamworld had $7,000,000 in 14% bonds outstanding through both years. Dreamworld's capitalized interest in 2021 was:

Multiple Choice

• $71,400.

• $83,300.

• $47,600.

• $95,200.