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 $ 1,170,000 March 1, 2024 990,000 June 30, 2024 110,000 October 1, 2024 730,000 January 31, 2025 855,000 April 30, 2025 1,170,000 August 31, 2025 2,070,000 On January 1, 2024, the company obtained a $3 million construction loan with a 12% interest rate. Assume the $3 million.

(Whoever answered this last time was 100% wrong, please someone else answer it)