Windsor Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $4,950,000on January 1, 2017. Windsor expected to complete the building by December 31, 2017. Windsor has the following debt obligations outstanding during the construction period.

Construction loan-10% interest, payable semiannually, issued December 31, 2016 $1,989,400

Short-term loan-8% interest, payable monthly, and principal payable at maturity on May 30, 2018 $1,591,100

Long-term loan-9% interest, payable on January 1 of eachyear. Principal payable on January 1,2021 $993,800

Assume that Windsor completed the office and warehouse building on December 31, 2017, as planned at a total cost of $5,211,800, and the weighted-average amount of accumulated expenditures was $3,768,500. 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 0 decimal places, e.g. 5,275.)

What is the avoidable interest?