On January 1, 2025, Metlock, Inc. signed a fixed-price contract to have Builder Associates construct a major plant facility at a cost of $4,419,000. It was estimated that it would take 3 years to complete the project. Also on January 1, 2025, to finance the construction cost, Metlock borrowed $4,419,000 payable in 10 annual installments of $441,900, plus interest at the rate of 10%. During 2025, Metlock made deposits and progress payments totaling $1,657,125 under the contract; the weighted-average amount of accumulated expenditures was $883,800 for the year. The excess borrowed funds were invested in short-term securities, from which Metlock realized investment income of $254,600.

What amount should Metlock report as capitalized interest at December 31, 2025?