On January 1, 2024, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September 30, 2025. Expenditures on the project were as follows: January 1, 2024 March 1, 2024 June 30, 2024 october 1, 2024) January 31, 2025 April 30, 2025 August 31, 2025 $ 1,290,000 780,000 240,000 690,000 1,080,000 1,395,000 2,520,000 On January 1, 2024, the company obtained a $3 million construction loan with a 11% Interest rate. Assume the $3 million loan is not specifically tied to construction of the building. The loan was outstanding all of 2024 and 2025. The company's other interest-bearing debt included two long-term notes of $5,800,000 and $7,800,000 with interest rates of 6% and 8%, respectively. Both notes were outstanding during all of 2024 and 2025. Interest is paid annually on all debt. The company's fiscal year-end Is December 31. Required: Using the weighted-average interest method, answer the following questions: 1. Calculate the amount of Interest that Mason should capitalize in 2024 and 2025 using the weighted-average method. 2. What is the total cost of the building? 3. Calculate the amount of Interest expense that will appear in the 2024 and 2025 Income statements. Req 1 and 3 Req 2 1. Calculate the amount of interest that Mason should capitalize in 2024 and 2025 using the weighted-average method. 3. Calculate the amount of interest expense that will appear in the 2024 and 2025 income statements. Note: Round "Weighted-average rate of all debt" to 2 decimal places but do not round other intermediate calculations. Enter your answers in dollars rounded to the nearest whole number. Show less A 1. Interest capitalized 3. Interest expense 2024 2025 Complete this question by entering your answers in the tabs below. Req 1 and 3 RIAS 2 What is the total cost of the building? Note: Round "Weighted-average rate of all debt" to 2 decimal places but do not round other intermediate calculations. Enter your answers in dollars rounded to the nearest whole number. Total cost of building < Req 1 and 3 Reg 2