On January 2, 2020, Swifty Corporation 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 $591000 September 1, 2020 1806000 December 31, 2020 1806000 March 31, 2021 1806000 September 30, 2021 1219000 Swifty Corporation borrowed $3240000 on a construction loan at 10% interest on January 2, 2020. This loan was outstanding during the construction period. The company also had $12360000 in 7% bonds outstanding in 2020 and 2021. The interest capitalized for 2020 was: $144200 $432600 $119300 $471700