Waller Quarry Co. is constructing a large drilling machine that qualifies for interest capitalization. The table below shows all debt (which is outstanding for the entire year) and all construction expenditures during the year. Outstanding debt Construction expenditures $200,000 of construction specific 7% bonds $280,000 on February 1 $125,000 of general purpose 5% notes $450,000 on August 31 $50,000 of general purpose 11% bonds What is the amount of capitalized interest during the year? Round all amounts to the nearest dollar and interest percentages to 1 decimal place (e.g., 5.3% or 0.053). Please put your answer in bold font. To receive credit, you must show your work