On March 1, 2020, Vaughn Manufacturing purchased land for an office site by paying $2712000 cash. Vaughn began construction on the office building on March 1. The following expenditures were incurred for construction:

Date		Expenditures
March 1, 2020		$1884000
April 1, 2020		2532000
May 1, 2020		4224000
June 1, 2020		4284000

The office was completed and ready for occupancy on July 1. To help pay for construction, and purchase of land $2980000 was borrowed on March 1, 2020 on a 8%, 3-year note payable. Other than the construction note, the only debt outstanding during 2020 was a $1510000, 11%, 6-year note payable dated January 1, 2020. The weighted-average accumulated expenditures on the construction project during 2020 were

$11352000.

$1884000.

$2712000.

$2322000.