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:

$$4,000,000,12\%$ note

$$6,000,000,7\%$ bonds

Construction expenditures incurred were as follows:

$\backslash$table$[[$July $1,2024,$$$520,000$

Complete this question by entering your answers in the tabs below.

$2024$

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

$\backslash$table$[[$Date$,$Expenditure,,Weight,,,,Average$],[$July $1,2024,,x,,,,=,],[$September $30,2024,,x,,,,=,],[$November $30,2024,,x,,,,=,],[$Accumulated expenditures,$$,,,,,,$$