Situation On January 1, 2020, Martinez, Inc. signed a fixed-price contract to have Builder Associates construct a major plant facility at a cost of $ 4,491,000. It was estimated that it would take 3 years to complete the project. Also on January 1, 2020, to finance the construction cost, Martinez borrowed $ 4,491,000 payable in 10annual installments of $ 449,100, plus interest at the rate of 10%. During 2020, Martinez made deposit and progress payments totaling $ 1,684,125under the contract; the weighted-average amount of accumulated expenditures was $ 898,200 for the year. The excess borrowed funds were invested in short-term securities, from which Martinez realized investment income of $ 261,100. What amount should Martinez report as capitalized interest at December 31, 2020? Capitalized interest $ Warehouse constructed for Sandhill's own use $ 31,110 Special-order machine for sale to unrelated customer, produced according to customer's specifications 9,640 Inventories routinely manufactured, produced on a repetitive basis 8,640 All of these assets required an extended period of time for completion. Assuming the effect of interest capitalization is material, what is the total amount of interest costs to be capitalized? The total amount of interest costs to be capitalized $ Situation III Teal, Inc. has a fiscal year ending April 30. On May 1, 2020, Teal borrowed $ 9,056,000 at 11% to finance construction of its own building. Repayments of the loan are to commence the month following completion of the building. During the year ended April 30, 2021, weighted-average accumulated expenditures were $3,169,600. Interest earned on the unexpended portion of the loan amounted to $ 588,640for the year. How much should be shown as capitalized interest on Teal's financial statements at April 30, 2021? Capitalized interest on Teal's financial statements $