On January 1, 2021, the Shagri Company began construction on a new manufacturing facility for its own use. The building was completed in 2022. The only interest-bearing debt the company had outstanding during 2021 was long-term bonds with a book value of $10,800,000 and an effective interest rate of 11%. Construction expenditures incurred during 2021 were as follows: January 1 March 1 July 31 September 30 December 31 $ 580,000 648,000 528,000 680,000 380,000 Required: Calculate the amount of interest capitalized for 2021. Date Expenditure Weight Average = = January 1 March 1 July 31 September 30 December 31 Accumulated expenditure = X = Required: Calculate the amount of interest capitalized for 2021. Expenditure Weight Average = = Date January 1 March 1 July 31 September 30 December 31 Accumulated expenditure Il II Amount Interest Rate % Capitalized Interest Average accumulated expenditures