please give the details that lead to the answer.

please look for the borrowing costs.

Swifty Furniture started construction of a combination office and warehouse building for its own use at an estimated cost of 4.420.000 on January 1, 2022. Swifty expected to complete the building by December 31, 2022. Swifty has the following debt obligations outstanding during the construction period. 1,810,000 Construction loan-12% Interest, payable semiannually, issued December 31, 2021 Short-term loan-10% interest, payable monthly, and principal payable at maturity on May 30, 2023 Long-term loan-11% interest payable on January 1 of each year. Principal payable on January 1, 2026 1,448,000 905,000 (al Your answer is incorrect Assume that swifty completed the office and warehouse building on December 31, 2022 as planned at a total cost of 4.706.000 The following expenditures were made during the period for this project: January 1, C905,000, April 1. 1.305,000: July 1. 1705.000, and October 1, 6560 000 Excess funds from the construction loans were invested during the period and eamed 20.200 of investment Income Compute the amount of borrowing costs to be capitalized for this project. (Use interest rates rounded to 2 decimal places, eg 758% for computational purposes and round final answers to decimal places es 5.275) Borrowing costs