On May 1, 2019, Morrison Properties began construction of a high-rise office building. The facility was completed in late 2020. Expenditures for the first year of construction on the building were as follows: May 1, 2019 June 1, 2019 August 31, 2019 October 1, 2019 December 31, 2019 $2,500,000 1,250,000 1,200,000 975,000 1,350,000 On January 1, 2019, to help finance the construction, Morrison Properties obtained a $2,100,000 construction loan with an 8% interest rate. The construction loan was outstanding for the entire period of construction. The company's other interest-bearing debt included two long-term notes of $2,500,000 and $6,000,000 with interest rates of 7% and 9%, respectively. Both notes were outstanding the entire year. The company's fiscal year-end is December 31. a. Calculate the amount of interest that Morrison Properties should capitalize in 2019. Round all calculations to the nearest whole dollar or nearest tenth percent (i.e. one decimal place after the decimal), as needed. b. Calculate the total cost of the facility, as of December 31, 2019. c. Calculate the amount of interest expense that will appear in the 2019 income statement for Morrison Properties