Pronghorn Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $ 2,004,000 on March 1, $ 1,284,000 on June 1, and $ 3,055,300 on December 31. Pronghorn Company borrowed $ 1,163,300 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, $ 2,377,000 note payable and an 11%, 4-year, $ 3,691,400 note payable. Compute avoidable interest for Pronghorn Company. Use the weighted-average interest rate for interest capitalization purposes. What is the avoidable interest?