Oriole Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,028,000 on March 1, $1,308,000 on June 1, and $3,008,000 on December 31. Oriole Company borrowed $1,114,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 5-year, $2,484,000 note payable and an 11%, 4-year, $3,232,000 note payable. Compute avoidable interest for Oriole Company. Use the weighted-average interest rate for interest capitalization purposes. (Round weighted- average interest rate to 4 decimal places, eg. 0.2152 and final answer to O decimal places, eg. 5,275.) Avoidable interest eTextbook and Media Save for Later Attempts: 0 of 15 used Submit