Waterway Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $5.000, 800 on January 1, 2017. Waterway expected to complete the building by December 31. 2017. Waterway has the following debt obligations outstanding during the construction period. Construction loan-12% interest, payable semiannually, issued December 31, 2016 $1, 994, 600 Short-term loan-10% interest, payable monthly, and principal payable at maturity on May 30, 2018 1, 593, 100 Long-term loan-11% interest payable on January l of each year. Principal payable on January l, 2021 995.900 Your answer is correct. Assume that Waterway completed the office and warehouse building on December 31, 2017, as planned at a total cost of $5, 236, 900, and the weighted-average amount of accumulated expenditures was $3, 795/900. Compute the avoidable interest on this project. (Use interest rates rounded to 2 decimal places, e.g. 7.58% for computational purposes and round final answers to O decimal places, e.g. 5, 275.) Avoidable Interest $ Your answer is incorrect. Compute the depreciation expense for the year ended December 31, 2018. Waterway elected to depreciate the building on a straight-line basis and determined that the asset has a useful life of 30 years and a salvage value of $302, 700. (Round answer to 0 decimal places, e.g. 5, 275.) Depreciation Expense $