Wilson received an S$18$ million $5\%$ loan on $1$ January $20$XB to finance construction of a new factory. As the funds were not all required Immediately Wilson invested S$6$ million in $2\%$ bonds until $31$ May $20$X$6$Construction of the factory began an $1$ March $20$X$8$ and was completed on $31$ December $20$X$8.$Calculate the amount of interest to be capitalised in respect of the factory as at $31$ December $20$X$8.$