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	$ 605000
September 1, 2020	1814400
December 31, 2020	1814400
March 31, 2021	1814400
September 30, 2021	1193000

Swifty Corporation borrowed $3200000 on a construction loan at 10% interest on January 2, 2020. This loan was outstanding during the construction period. The company also had $11880000 in 7% bonds outstanding in 2020 and 2021. The interest capitalized for 2020 was:

a. $138600

b. $484020

c. $415800

d. $120980