On January 1, 2024, a company began construction of an automated cattle feeder system. The system was finished and ready for use on September 30,2025. Expenditures on the project were as follows: The company borrowed $790,000 on a construction loan at 8% interest on January 1. 2024. This loan was outstanding throughout the construction period. The company had $4,700,000 in 8% bonds payoble outstanding in 2024 and 2025 Average accumulated expenditures for 2024 was