Question 4 of 6 -/5 III View Policies Current Attempt in Progress On December 31, 2019, Waterway Inc. borrowed $3,180,000 at 12% payable annually to finance the construction of a new building. In 2020, the company made the following expenditures related to this building: March 1. $381,600: June 1, $636,000: July 1. $1.590,000: December 1.51,590,000. The building was completed in February 2021. Additional information is provided as follows. 1. Other debt outstanding 10-year, 13% bond. December 31, 2013, interest payable annually 6-year, 10% note, dated December 31, 2017, interest payable annually March 1.2020.expenditure included land costs of $159,000 Interest revenue earned in 2020 $4.240.000 $1,696,000 2. 3. $51.940 (a) Determine the amount of interest to be capitalized in 2020 in relation to the construction of the building, The amount of interest $ eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above