On January 1, 2021, the Highlands Company began construction on a new manufacturing facility for its own use. The building was completed in 2022. The company borrowed $1,600,000 at 9% on January 1 to help finance the construction. In addition to the construction loan, Highlands had the following debt outstanding throughout 2021. $5,000, , 13% bonds $3,000,000, 9% long-term note Construction expenditures incurred during 2021 were as follows: January 1 March 31 June 30 September 30 December 31 $ 700,000 1,300,000 920,000 700,000 5ee, eee Average Weight 1/12/ Required: Calculate the amount of Interest capitalized for 2021 using the specific interest method. (Do not round the intermediate celuledien Round your percentage answers to 1 decimal place (le. 0.123 should be entered as 12.39 s Date $ Expenditure 700,000 x 1.300.000 x 920.000 x 700.000 x 500.000/ x 4120.000 25 2 S Prey January 1 March 31 June 30 September 30 December 31 cumulated expenditure