On March 1, 2017, Newton Company purchased land for an office site by paying $2,700,000 cash. Newton began construction on the office building on March 1. The following expenditures were incurred for construction: Date Expenditures March 1, 2017 $ 1,800,000 April 1, 2017 2,520,000 May 1, 2017 4,500,000 June 1, 2017 4,800,000 The office was completed and ready for occupancy on July 1. To help pay for construction, and purchase of land $3,600,000 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 $1,500,000, 12%, 6-year note payable dated January 1, 2017. The weighted-average accumulated expenditures on the construction project during 2017 were

a. $14,670,000.

b.$1,560,000.

c.$3,280,000.

d.$1,920,000.