On January 2, 2020, Sunland Company began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2021. Expenditures for the construction were as follows: January 2, 2020 September 1, 2020 December 31, 2020 March 31, 2021 September 30, 2021 $611000 1800000 1800000 1800000 1200000 Sunland Company borrowed $3310000 on a construction loan at 12% interest on January 2, 2020. This loan was outstanding during the construction period. The company also had $13320000 in 9% bonds outstanding in 2020 and 2021. The interest capitalized for 2020 was: $505320 O $108990 O $289320 O $145320