Thornton Industries began construction of a warehouse on July 1, 2016. The project was completed on March 31, 2017. No new loans were required to fund construction. Thornton does have the following two interest-bearing liabilities that were outstanding throughout the construction period

$3,000,000, 8% note

$5,000,000, 4% bonds

Construction expenditures incurred were as follows:

July 1, 2016	$	660,000
September 30, 2016		930,000
November 30, 2016		930,000
January 30, 2017		870,000

The companys fiscal year-end is December 31.

Required:

Calculate the amount of interest capitalized for 2016 and 2017. (Do not round the intermediate calculations. Round your percentage answers to 1 decimal place (i.e. 0.123 should be entered as 12.3%).)