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:

$$3,000,000,8\%$ note

$$9,000,000,4\%$ bonds

Construction expenditures incurred were as follows:

July $1,2024$ $ $480,000$

September $30,2024720,000$

November $30,2024720,000$

January $30,2025660,000$

The company$$s fiscal year$-$end is December $31.$

Required:

Calculate the amount of interest capitalized for $2024$ and $2025.$

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$.0\mathrm{.}123$ should be entered as

$12\mathrm{.}3\%$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$.0\mathrm{.}123$ should be entered as

$12\mathrm{.}3\%$