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 $2,500.000 at 8% on January 1 to help finance the construction. In addition to the construction loan, Highlands had the following debt outstanding throughout 2024 $9,000,000,9% bonds 56,000,000,8% longterm note Construction expenditures incurred during 2024 were as follows: Required: Calculate the amount of interest capitalized for 2024 using the specific interest method. Note: Do not round the intermediote calculotions. Round your percentoge answers to 1 decimal place (i.e. 0.123 should be entered os 12.3%