On March 1, Blossom Co. began construction of a small building. The following expenditures were incurred for construction: March 1 $301,200 April 1 267,600 May 1 789,600 June 1 1,185,600 July 1 402,000 The building was completed and occupied on July 1. To help pay for construction $191,000 was borrowed on March 1 on a 12%, three- year note payable. The only other debt outstanding during the year was a $1,887,000, 10% note issued two years ago. (a) (b) Calculate avoidable interest.