On January 1, 2024, the Highlands Company began construction on a new manufacturing facility for its own use. The building was completed in 2025. The company borrowed $2,350,000 at 9% on January 1 to help finance the construction. In addition to the construction loan, Highlands had the following debt outstanding throughout 2024 $7,000,000, 14% bonds $3,000,000, 9% long-term note Construction expenditures incurred during 2024 were as follows: January 1 March 31 June 30 September 30 $ 960,000 1,560,000 1,232,000 960,000 December 31 Required: 760,000 Calculate the amount of interest capitalized for 2024 using the specific interest method. Note: Do not round the intermediate calculations. Round your percentage answers to 1 decimal place (i.e. 0.123 should be entered as 12.3%). Date January 1 March 31 June 30 September 30 December 311 Accumulated expenditure Expenditure Weight Average x x x x Average accumulated expenditures Amount Interest Rate Capitalized Interest xx xx % %