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 $2,350,000 at 9% on January 1 to help finance the construction. In addition to the construction loan, Highlands had the following debt outstanding throughout 2021:

$7,000,000, 14% bonds

$3,000,000, 9% long-term note

Construction expenditures incurred during 2021 were as follows:

January 1	$	960,000
March 31		1,560,000
June 30		1,232,000
September 30		960,000
December 31		760,000

Required: Calculate the amount of interest capitalized for 2021 using the specific interest method. (Do not round the intermediate calculations. Round your percentage answers to 1 decimal place (i.e. 0.123 should be entered as 12.3%).)

Date	Expenditure		Weight			Average
January 1		x			=
March 31		x			=
June 30		x			=
September 30		x			=
December 31		x			=
Accumulated expenditure	$0					$0
	Average		Interest Rate			Capitalized Interest
Average accumulated expenditures	$0
		x		%	=	$0
		x		%	=	0
						$0