On January 1, 2023, Jones Properties began construction of a warehouse. The facility was completed in late 2024. Expenditures for the first year of construction on the building were as follows: January 1, 2023 $1,100,000 April 1, 2023 1425000 June 1, 2023 1200000 October 31, 2023 940000 December 31, 2023 1375000 On January 1, 2023, to help finance the construction, Jones Properties obtained a $2,000,000 construction loan with an 8.45% interest rate. The construction loan was outstanding for the entire period of construction. The company's other interest-bearing debt included two long-term notes of $2,750,000 and $1,300,000 with interest rates of 7.5% and 8.25%, respectively. Both notes were outstanding during the entire period of construction. The company's fiscal year-end is December 31. Calculate the amount of interest that Jones Properties should capitalize in 2023 using the specific interest method. Calculate the total cost of the facility, as of December 31, 2023. Calculate the amount of interest expense that will appear in the 2023 income statement for Jones Properties