View Policies Current Attempt in Progress On January 1, 2020, Waterway Industries purchased land for an office site by paying $2660000 cash. Waterway began construction on the office building on January 1. The following expenditures were incurred for construction: Date Expenditures January 1, 2020 $ 1750000 April 1, 2020 2490000 May 1, 2020 4580000 June 1, 2020 4730000 The office was completed and ready for occupancy on July 1. To help pay for construction, and purchase of land $3660000 was borrowed on January 1, 2020 on a 9%, 3-year note payable. Other than the construction note, the only debt outstanding during 2020 was a $1590000, 12%, 6-year note payable dated January 1, 2020. Assume the weighted average accumulated expenditures for the construction project are $4390000. The amount of interest cost to be capitalized during 2020 is O $417000 O $520200 O $465300 $395100