On January 12021, the Shagri Company began construction on a new manufacturing facility its own useThe building was completed in 2022. The only interest-bearing debt the company had outstanding during 2021 was long-term bonds with a book of $11,500,000 and an effective interest rate of 10%Construction expenditures incurred during 2021 were as follows.

Exercise 10-23 (Algo) Interest capitalization (LO10-7] On January 1, 2021, the Shagni Company began construction on a new manufacturing facility for its own use. The building was completed in 2022. The only interest-bearing debt the company had outstanding during 2021 was long-term bonds with a book valu of $11,500,000 and an effective interest rate of 10%. Construction expenditures incurred during 2021 were as follows: January 1 March 1 July 31 September 30 December 31 $650,000 690,000 570,000 750,000 450,000 Required: Calculate the amount of interest capitalized for 2021. Expenditure Weight Average X Date January 1 March 1 July 31 September 30 December 31 Accumulated expenditure 3 ter 10 Homework Saved 5 March 1 July 31 September 30 December 31 690,000 570,000 750,000 450,000 ES Required: Calculate the amount of interest capitalized for 2021. Book Expenditure Weight Average Print forences Date January 1 March 1 July 31 September 30 December 31 Accumulated expenditure x X Amount Interest Rate 96 Capitalized Interest Average accumulated expenditures x