Sheridan Company is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6380000 on March 1, $5290000 on June 1, and $8650000 on December 31. Sheridan Company borrowed $3240000 on January 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 3-year, $6410000 note payable and an 11%, 4-year, $12850000 note payable. What is the avoidable interest for Sheridan Company?