Sheffield Company is constructing a building. Construction began on February 1 and was completed on December 31 . Expenditures were $1,992,000 on March 1, $1,272,000 on June 1 , and $3,046,000 on December 31. Sheffield Company borrowed $1,116,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 9%,5-year, $2,383,000 note payable and an 10%,4-year, $3,634,000 note payable. Compute avoidable interest for Sheffield Company. Use the weighted-average interest rate for interest capitalization purposes. (Round weighted-average interest rate to 4 decimal places, e.3. 0.2152 and final answer to 0 decimal places, e. . 5.275.) Avoidable interest $