Question 12 options: January 2, 2019 Swifty Corporation purchased land for an office site. Swifty began construction of the office building on January 3rd, 2019. The office building was completed and ready for occupancy on December 31, 2019. To help pay for construction $3,670,000 was borrowed on January 2, 2019 on a 9%, 3-year note payable. Other than the construction note, the only debt outstanding during 2019 was a $1,510,000, 10%, 6-year note payable dated January 1, 2018. Assume the weighted-average accumulated expenditures for the construction project are $4,300,000.

What is the amount of avoidable interest? (do not use dollar signs, commas or decimal points in your answer)

What is the amount of actual interest? (do not use dollar signs, commas or decimal points in your answer)

What is the amount of interest capitalized? (do not use dollar signs, commas or decimal points in your answer)

What is the amount of interest recorded as an expense on the income statement?