On January 1, 2024, a company began construction of a new warehouse. The building was finished and ready for use on September 30, 2025. Expenditures on the project were as follows: January 1, 2024 September 1, 2024 $ 340,000 $ 510,000 December 31, 2024 March 31, 2025 $ 510,000 $ 510,000 $ 340,000 September 30, 2025 The company had $7,000,000 in 14% bonds outstanding through both years. Capitalized interest in 2024 was: Multiple Choice $47,600. $83,300. $95,200. $71,400.