TamariskFurniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $4,981,900on January 1, 2017.Tamariskexpected to complete the building by December 31, 2017.Tamariskhas the following debt obligations outstanding during the construction period.

Construction loan-10% interest, payable semiannually, issued December 31, 2016$2,000,100Short-term loan-8% interest, payable monthly, and principal payable at maturity on May 30, 20181,595,800Long-term loan-9% interest, payable on January 1 of eachyear. Principal payable on January 1, 20211,002,900

Assume thatTamariskcompleted the office and warehouse building on December 31, 2017, as planned at a total cost of $5,251,100, and the weighted-average amount of accumulated expenditures was $3,799,100. Compute the avoidable interest on this project.(Use interest rates rounded to 2 decimal places, e.g. 7.58% for computational purposes and round final answers to 0 decimal places, e.g. 5,275.)