Waddell Corporation is constructing a new wind power-generating facility. Construction began on January 2 and was completed on December 31 of the current year. Waddell made the following expenditures during the year: (Click the icon to view expenditures.) To specifically finance the project, Waddell issued $2,800,000 of 2-year, 10% notes payable on January 2. Interest is payable annually on December 31 each year. It earned interest income of $3,500 from investing the proceeds of the note during the year. What amount of interest can Waddell capitalize during the year? Let's begin by calculating the weighted-average accumulated expenditures for the current year. (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar.) Date (Current Year) January 2 August 1 October 1 December 1 Weighted-Average Accumulated Expenditures Total Accumulated Expenditure Now, determine the amount of interest to be capitalized by Waddell Corporation. ( $ The interest to be capitalized is Expenditure Table Date Amount January 2 $ 510,000 August 1 October 1 450,000 1,250,000 December 1 590,000 Print Done