The Barney Corporation, a publically accountable entity, placed an order for an oil tanker on February 1, 20x5. The shipyard required a downpayment of $10 million. Additional payments on the tanker are as follows: April 1, 20x5 $4,000,000 June 1, 20x5 8,000,000 October 15, 20x5 3,000,000 November 30, 20x5 25,000,000 The tanker was delivered and placed in service on November 30, 20115. Barney borrowed $15,000,000 on February 2, 20x5 to make the down payment at a rate of 6%. This loan was paid off on November 30, 20x5. The company's general borrowings are as follows: Interest Rate Amount Bank Loan 1 4% $20,000,000 Bank Loan 2 6% 50,000,000 Bank Loan 3 3.5% 40,000,000 Bank Loan 2 was paid off on August 31, 20x5. Bank Loan 3 was taken out on May 31, 20x5. Calculate the amount of borrowing costs that have to be capitalized to the tanker