On January 2, 2020, Bramble Corp. began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2021. Expenditures for the construction were as follows:

January 2, 2020 $ 612000

September 1, 2020 1812000

December 31, 2020 1812000

March 31, 2021 1812000

September 30, 2021 1200000

Bramble Corp. borrowed $3390000 on a construction loan at 12% interest on January 2, 2020. This loan was outstanding during the construction period. The company also had $13080000 in 9% bonds outstanding in 2020 and 2021.

The interest capitalized for 2020 was:

$145920

$508320

$109440

$290880