Thornton Industries began construction of a warehouse on July 1, 2021. The project was completed on March 31, 2022. No new loans were required to fund construction. Thornton does have the following two interest-bearing liabilities that were outstanding throughout the construction period: $6,000,000, 8% note $9,000,000, 3% bonds Construction expenditures incurred were as follows: July 1, 2021 $ 580,000 September 30, 2021 870,000 November 30, 2021 870,000 January 30, 2022 810,000 The companys fiscal year-end is December 31. Required: Calculate the amount of interest capitalized for 2021 and 2022.