Thornton Industries began construction of a warehouse on July 1, 2024. The project was completed on March 31,2025 . No new loans were required to fund construction. Thornton does have the following two interest-bearing liabilities that were outstanding throughout the construction period: $2,000,000,8% note $8,000,000,4% bonds Construction expenditures incurred were as follows: The company's fiscal year-end is December 31. Required: Calculate the amount of interest capitalized for 2024 and 2025. Complete this question by entering your answers in the tabs below. Calculate the amount of interest capitalized for 2024. Note: Do not round the intermediate calculations. Round your percentage answers to 1 decimal place (i.e. 0.123 should be entered as 12.3%). Calculate the amount of interest capitalized for 2025. Note: Do not round the intermediate calculations. Round your percentage answers to 1 decimal place (i.e. 0.123 should be entered as 12.3\%)