Renewable Infrastructure: On February 1, 2024, EcoSolutions Ltd. contracted GreenBuilders to construct a new renewable energy plant for $6,000,000. EcoSolutions made payments for the construction as follows: April 1, $1,200,000, June 1, $1,800,000, and December 31, $3,000,000. The construction was completed, and the plant was ready for operation on December 31, 2024. EcoSolutions had the following outstanding debt as of December 31, 2024:

i) A 8% three-year note to finance construction of the plant, dated December 31, 2023, with interest payable annually on December 31. Principal amount: $2,500,000.

ii) A 6% five-year note payable, dated December 31, 2022, with interest payable annually on December 31. Principal amount: $1,500,000.

Required: i) Determine the amount of interest to be capitalized in 2024 in relation to the construction of the plant. ii) Prepare journal entries for EcoSolutions Ltd. during 2024.