Sneed Corporation began construction of a recording studio on January 1, 2022 and completed the studio on October 31, 2023. The details on the expenditures relating to the project were as follows: The company provided the following information on its various debts outstanding during the entire period of the construction: ( 12 % ), ten-year note issued on December 31, 2015 [ egin{array}{l} $ 1,000,000 \ $ 2,000,000 end{array} ] [ 9 % ext {, five-year bank loan taken on January 1, } 2021 ] Sneed's capitalized interest in 2022 was:

Sneed Corporation began construction of a recording studio on January 1, 2022 and completed the studio on October 31, 2023. The detalls on the expenditures relating to the project were as follows: The company provided the following information on its various debts outstanding during the entire period of the construction: 12%, ten-year note issued on December 31, 2015 $1,000,000$2,000,000 9%,five-yearbankloantakenonJanuary1,2021 Sneed's capitalized interest in 2022 was