On January 1, 2022. Flounder Outfitters signed a fixed-price contract to have Builder Associates construct a major plant facility at a cost of R$4,320,000. It was estimated that it would take 3 years to complete the project. Also on January 1.2022. to finance the construction cost, Flounder borrowed R$4,320,000 payable in 10 annual installments of R$432,000, plus interest at the rate of 10%. During 2022. Flounder made deposit and progress payments totaling R$1.620,000 under the contract. The excess borrowed funds were invested in short-term securities, from which Flounder realized investment income of R$54,000 What amount should Flounder report as capitalized borrowing cost at December 31, 2022? Capitalized borrowing cost R$