Question 10 of 30 < > View Policies -/3.33 E Current Attempt in Progress On January 1, 2020, Sheridan Company purchased land for an office site by paying $2670000 cash. Sheridan began construction on the office building on January 1. The following expenditures were incurred for construction: Date Expenditures January 1,2020 $1700000 April 1, 2020 2520000 May 1, 2020 4410000 June 1, 2020 4760000 4 The office was completed and ready for occupancy on July 1. To help pay for construction, and purchase of land $3690000 was borrowed on January 1, 2020 on a 9%, 3-year note payable. Other than the construction note, the only debt outstanding during 2020 was a $1480000, 12%. 6-year note payable dated January 1, 2020. Tvoe here to sur Assume the weighted average accumulated expenditures for the construction project are $4370000. The amount of interest cost to be capitalized during 2020 is