On March 1, 2025, Swifty Corporation purchased land for an office site by paying $2748000 cash. Swifty

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Question:

On March 1, 2025, Swifty Corporation purchased land for an office site by paying $2748000 cash. Swifty began construction on the office building on March 1. The following expenditures were incurred for construction:

Date

Expenditures

March 1, 2025

$1776000

April 1, 2025

2508000

May 1, 2025

3660000

June 1, 2025

4164000

The office was completed and ready for occupancy on July 1. To help pay for construction, and purchase of land $3590000 was borrowed on March 1, 2025 on a 8%, 3-year note payable. Other than the construction note, the only debt outstanding during 2025 was a $1520000, 11%, 6-year note payable dated January 1, 2025.

The weighted-average accumulated expenditures on the construction project during 2025 were ?