On January 1, 2024, the Shagri Company began construction on a new manufacturing facility for its own use. The building was completed in 2025. The only interest-bearing debt the company had outstanding during 2024 was long-term bonds with a book value of $10,100,000 and an effective interest rate of 9%. Construction expenditures incurred during 2024 were as follows:

January 1	$ 510,000
March 1	606,000
July 31	486,000
September 30	610,000
December 31	310,000

Required:

Calculate the amount of interest capitalized for 2024.

\begin{tabular}{|c|c|c|c|c|c|} \hline Date & Expenditure & & Weight & & Average \\ \hline January 1 & & x & & = & \\ \hline March 1 & & x & & = & \\ \hline July 31 & & x & & = & \\ \hline September 30 & & x & & = & \\ \hline December 31 & & x & & = & \\ \hline \multicolumn{6}{|l|}{ Accumulated expenditure } \\ \hline & Amount & & \begin{tabular}{c} Interest \\ Rate \end{tabular} & & \begin{tabular}{c} Capitalized \\ Interest \end{tabular} \\ \hline Average accumulated expenditures & & x & % & = & \\ \hline \end{tabular}