On January 2, 2020, Coronado Industries 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	$ 596000
September 1, 2020	1802400
December 31, 2020	1802400
March 31, 2021	1802400
September 30, 2021	1216000

Coronado Industries borrowed $3310000 on a construction loan at 12% interest on January 2, 2020. This loan was outstanding during the construction period. The company also had $12360000 in 9% bonds outstanding in 2020 and 2021. The interest capitalized for 2021 was:

$374356

$355242

$76456

$297900