Question 3 of 3 < > View Policies Current Attempt in Progress -/10 E On December 31, 2019, Bonita Inc. borrowed $4,140,000 at 13 % payable annually to finance the construction of a new building. In 2020, the company made the following expenditures related to this building: March 1. $496,800; June 1. $828,000; July 1. $2,070,000; December 1. $2,070,000. The building was completed in February 2021. Additional information is provided as follows. 1. Other debt outstanding 10-year, 14% bond, December 31, 2013, interest payable annually $5,520,000 6-year, 11% note, dated December 31, 2017, interest payable annually $2,208,000 2. March 1, 2020, expenditure included land costs of $207,000 3. Interest revenue earned in 2020 $67,620 (a) Determine the amount of interest to be capitalized in 2020 in relation to the construction of the building. The amount of interest $