On January 2, 2020, Sunland Company 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 $ 611000 September 1, 2020 1809600 December 31, 2020 1809600 March 31, 2021 1809600 September 30, 2021 1210000 Sunland Company borrowed $ 3400000 on a construction loan at 10% interest on January 2, 2020. This loan was outstanding during the construction period. The company also had $ 13320000 in 7% bonds outstanding in 2020 and 2021 Sunland Company borrowed $ 3400000 on a construction loan at 10% interest on January 2, 2020. This loan was outstanding during the construction period. The company also had $ 13320000 in 7% bonds outstanding in 2020 and 2021. The interest capitalized for 2020 was: $ 466200 O $ 155400 O $121420 $ 489580