Thornton Industries began construction of a warehouse on July $1,2018.$ The project was completed on March $31,2019.$ No new loans were required to fund construction. Thornton does have the following two interest$-$bearing liabilities that were outstanding throughout the construction period:

$$6,000,000,9\%$ note

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

Construction expenditures incurred were as follows:

$\backslash$table$[[$July $1,2018,$$$740,000$