On January 1, 2021, the Highlands Company began construction on a new manufacturing facility for its own use. The buliding was completed in 2022. The company borrowed $1,500,000 at 8% on January 1 to help finance the construction. In addition to the construction loan, Highlands had the following debt outstanding throughout 2021: Construction expenditures incurred during 2021 were as follows: Required: Caiculate the amount of interest capitaized for 2021 uiting the specific interest method. (Do not round the intermediate calculations. Round your percentage answers to 1 decimal place (1.e. 0.123 should be entered as 123%6)