Question 1 --/1 View Policies Current Attempt in Progress Tamarisk Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $4,957,500 on January 1, 2017. Tamarisk expected to complete the building by December 31, 2017. Tamarisk has the following debt obligations outstanding during the construction period. Construction loan-10% interest, payable semiannually, issued December 31, 2016 Short-term loan-8% interest, payable monthly, and principal payable at maturity on May 30, 2018 Long-term loan-9% interest, payable on January 1 of each year. Principal payable on January 1, 2021 $2,015,800 1,606,700 993,300 Assume that Tamarisk completed the office and warehouse building on December 31, 2017, as planned at a total cost of $5,195,900, and the weighted average amount of accumulated expenditures was $3,810,800. Compute the avoidable interest on this project. (Use interest rates rounded to 2 decimal places, e.g. 7.58% for computational purposes and round final answers to 0 decimal places, e.g. 5,275.) Avoidable Interest $