TamariskFurniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $12,000,000 on January 1,2020. Tamarisk expected to complete the building by December 31,2020 . Tamarisk has the following debt obligations outstanding during the construction period. (a) Assume that Tamarisk completed the office and warehouse building on December 31,2020 , as planned at a total cost of $12,480,000, and the weighted-average amount of accumulated expenditures was $8,640,000. 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.) Your answer is incorrect. Compute the depreciation expense for the year ended December 31, 2021. Tamarisk elected to depreciate the building on a straight-line basis and determined that the asset has a useful life of 30 years and a salvage value of $720,000. (Round answer to 0 decimal places, e.g. 5,275.)