On January 1, 2024, the Marjlee Company began construction of an office building to be used as its corporate headquarters. The building was completed early in 2025 . Construction expenditures for 2024 , which were incurred evenly throughout the year, totaled $9,000,000. Marjlee had the following debt obligations which were outstanding during all of 2024 : Required: Calculate the amount of interest capitalized in 2024 for the building using the specific interest method