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Metlock Company is constructing a building. Construction began on February 1 and was completed on...

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Metlock Company is constructing a building. Construction began on February 1 and was completed on December 31 . Expenditures were $1,908,000 on March 1, $1,308,000 on June 1 , and $3,011,000 on December 31. Metlock Company borrowed $1,016,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10\%, 5-year, $2,195,000 note payable and an 11%,4-year, $3,605,000 note payable. Compute avoidable interest for Metlock Company. Use the weighted-average interest rate for interest capitalization purposes. (Round weighted-average interest rate to 4 decimal places, e.g. 0.2152 and final answer to 0 decimal places, e.g. 5,275.) Avoidable interest \$

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