Sunland Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,800,000on March 1, $1,200,000on June 1, and $3,026,100on December 31.

Sunland Company borrowed $1,159,000on March 1 on a5-year,13% note to help finance construction of the building. In addition, the company had outstanding all year a9%,5-year, $2,017,300note payable and an10%,4-year, $3,599,800note payable. Compute avoidable interest for Sunland Company. Use the weighted-average interest rate for interest capitalization purposes.(Round percentages to 2 decimal places, e.g. 2.51% and final answer to 0 decimal places, e.g. 5,275.)

Avoidable interest