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 $2.400.000 at 6% on January 1 to help finance the construction. In addition to the construction loan, Highlands had the following debt outstanding throughout 2021: $8,000,000, 11% bonds $2,000,000, 6% long-tere note Construction expenditures incurred during 2021 were as follows: $ January 1 March 31 June 30 September 30 December 31 980,000 1,580,000 1,256,000 980,000 780,000 Required: Calculate the amount of interest capitalized for 2021 using the specific interest method. (Do not round the intermediate calculation Round your percentage answers to 1 decimal place (i.e. 0.123 should be entered as 12.3%).) Date Expenditure Weight Average January 1 March 31 June 30 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 (ie 0.123 should be entered as 12.3%).) Date Expenditure Weight Average January 1 March 31 June 30 September 30 December 31 Accumulated expenditure Interest Rate Capitalized Interest Average Average accumulated expenditures S