On March $1,2025,$ Concord Corporation purchased land for an office site by paying $$2780000$ cash. Concord began construction on

the office building on March $1.$ The following expenditures were incurred for construction:

The office was completed and ready for occupancy on July $1.$ To help pay for construction, and purchase of land $$3600000$ was

borrowed on March $1,2025$ on a $9\%,3-$year note payable. Other than the construction note, the only debt outstanding during $2025$

was a $$1430000,12\%,6-$year note payable dated January $1,2025.$

The actual interest cost incurred during $2025$ was

$$413000.$

$$247800.$

$$441600.$

$$495600.$