On January 1, 2021, the Mason Manufacturing Company began construction of building to be used as its office anderers. The building was completed on September 30, 2022. Expenditures on the project were as follows: mary2020 March 1, 2021 June 30, 2020 October 1, 2021 Jentry 01.2002 A 10.2002 At 31, 1033 13,310,000 1.320.000 1.570,000 1.320.00 378,000 711.00 1.000.000 On January 1 2021, the company obtained a $4.200.000 construction loan with a 16% Interest rate. The loan was outstanding all of 2021 and 2022. The company's other interest-bearing debt included two long-term notes of $4,000,000 and $6.000.000 with interest rates of 12% and 14%, respectively. Both notes were outstanding during all of 2021 and 2022. Interest is paid annually on all debt. The company's fiscal year end is December 31 Required: 1. Calculate the amount of interest that Mason should capitalize in 2021 and 2022 using the specific interest method. 2. What is the total cost of the building 3. Calculate the amount of interest expense that will appear in the 2021 and 2022 income statements Complete this question by entering your answers in the tabs below. Red 1 and Ree 2