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ferences Req 1 and 3 Req 2 What is the total cost of the building? ("Round "Weighted-average rate of all debt" to 2 decimal places but do not round other intermediate calculations. Round your answer to the nearest whole dollar.) Total cost of building Complete this question by entering your answers in the tabs below. CE'S Req 1 and 3 Req 2 Calculate the amount of interest that Mason should capitalize in 2021 and 2022 using the weightedaverage method and interest expense that will appear in the 2021 and 2022 income statements. ("Round "Weightedaverage rate of all debt" to 2 decimal places but do not round other intermediate calculations. Round your answers to the nearest whole dollar.) Interest capitalized Interest expense 8 12.5 pomts EBOOK Print References On January 1, 2021, the company obtained a $3 million loan with a 12% interest rate. The building was completed on September 30, 2022. Expenditures on the project were as follows: January 1, 2621 $1,246,666 March 1, 2921 559,999 June 36, 2621 456,666 October 1, 2621 556,666 January 31, 2622 906,666 April 39, 2922 1,215,999 August 31, 2922 2,166,696 On January 1, 2021, the company obtained a $3 million construction loan with a 12% interest rate. Assume the $3 million loan is not specifically tied to construction oftne building. The loan was outstanding all of 2021 and 2022. The company's otner interestbearing debt included two long-term notes of $5,400,000 and $7,400,000 with interest rates of 6% and 8%, respectively. Both notes were outstanding during all of 2021 and 2022. Interest is paid annually on all debt. The company's fiscal yeareend is December 31. Required: 1. Calculate the amount of interest that Mason should capitalize in 2021 and 2022 using the weightedeaverage method. 2. What is the total cost of the building? 3. Calculate the amount of interest expense that will appear in the 2021 and 2022 income statements. Complete this question by entering your answers in the tabs below. Req 1 and 3 Reg 2