Tamarisk Company is constructing a building. Construction began on February 1 and was completed on December 31 . Expenditures were $1,980,000 on March 1, \$1,260,000 on June 1, and \$3,087,000 on December 31. Tamarisk Company borrowed $1,172,000 on March 1 on a 5-year, 12\% note to help finance construction of the building. In addition, the company had outstanding all year a 10\%, 5-year, \$2,045,000 note payable and an 11\%, 4-year, \$3,472,000 note payable. Compute avoidable interest for Tamarisk Company. Use the weighted-average interest rate for interest capitalization purposes. (Round weighted-average interest rate to 4 decimal places, e.g. 0.2152 and final answer to 0 decimal places, e.g. 5,275.) Avoidable interest $ Tamarisk Company is constructing a building. Construction began on February 1 and was completed on December 31 . Expenditures were $1,980,000 on March 1, \$1,260,000 on June 1, and \$3,087,000 on December 31. Tamarisk Company borrowed $1,172,000 on March 1 on a 5-year, 12\% note to help finance construction of the building. In addition, the company had outstanding all year a 10\%, 5-year, \$2,045,000 note payable and an 11\%, 4-year, \$3,472,000 note payable. Compute avoidable interest for Tamarisk Company. Use the weighted-average interest rate for interest capitalization purposes. (Round weighted-average interest rate to 4 decimal places, e.g. 0.2152 and final answer to 0 decimal places, e.g. 5,275.) Avoidable interest $