On March 1, 2020, Coronado Industries purchased land for an office site by paying $2616000 cash. Coronado began construction on the office building on March 1. The following expenditures were incurred for construction:

Date		Expenditures
March 1, 2020		$1824000
April 1, 2020		2448000
May 1, 2020		4008000
June 1, 2020		3708000

The office was completed and ready for occupancy on July 1. To help pay for construction, and purchase of land $3340000 was borrowed on March 1, 2020 on a 9%, 3-year note payable. Other than the construction note, the only debt outstanding during 2020 was a $1560000, 12%, 6-year note payable dated January 1, 2020. The weighted-average accumulated expenditures on the construction project during 2020 were

$10896000.

$2616000.

$3069000.

$1824000.