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SU View Policies Current Attempt in Progress Buffalo Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $9,000,000 on January 1, 2020, Buffalo expected to complete the building by December 31, 2020 Buffalo has the following debt obligations outstanding during the construction period. $3,600,000 2.700.000 Construction loan-12% interest. payable semiannually issued December 31, 2019 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, 2024 1.800.000 Assume that Buffalo completed the office and warehouse building on December 31, 2020, as planned at a total cost of 59,360,000, and the weighted average amount of accumulated expenditures was $6.480.000. Compute the avoidable intereston this project. (Use interest rates rounded to 2 decimal places, es 7.58% for computational purposes and round final answers to decimal places, es 5.275) Avoidable Interest 5 e Textbook and Media