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 $ 323,000

September 1, 2021 $ 483,000

December 31, 2021 $ 483,000

March 31, 2022 $ 483,000

September 30, 2022 $ 323,000

Dreamworld had $6,100,000 in 15% bonds outstanding through both years.

Dreamworld's capitalized interest in 2021 was:

Multiple Choice

$48,450.

$84,712.

$96,900.

$72,600.