On March 1, 2017, Concord Corporation purchased land for an office site by paying $2568000 cash. Concord began construction on the office building on March 1. The following expenditures were incurred for construction: Date March 1, 2017 April 1, 2017 May 1, 2017 June 1, 2017 Expenditures $1728000 2472000 3660000 4188000 The office was completed and ready for occupancy on July 1. To help pay for construction, and purchase of land $2420000 was borrowed on March 1, 2017 on a 9, 3-year note payable. Other than the construction note, the only debt outstanding during 2017 was a $1550000, 12%. 6-year note payable dated January 1, 2017 The weighted average accumulated expenditures on the construction project during 2017 were $1649000. $14399000. $1289000. $3009000