SkysongFurniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $7,000,000 on January 1, 2020. Skysong expected to complete the building by December 31, 2020. Skysong has the following debt obligations outstanding during the construction period. $2,800,000 2,100,000 Construction loan 12% interest, payable semiannually, issued December 31, 2019 Short-term loan-10% interest, payable monthly, and principal payable at maturity on May 30,2021 Long-term loan 11% interest, payable on January 1 of each year. Principal payable on January 1, 2024 1.400.000 (a) Assume that Skysong completed the office and warehouse building on December 31, 2020, as planned at a total cost or $7,280,000, and the weighted average amount of accumulated expenditures was $5,040.000, Compute the avoidable interest on this project. (Use interest rates rounded to 2 decimal places, es.7.58% for computational purposes and round final answers to decimal places, eg. 5,275.) $ Avoidable Interest