Required:
Calculate the amount of interest capitalized for the year 2018.

On January 1, 2018, the Shagri Company broke ground on a new manufacturing facility for its own use. The building was completed in 2019. The only interest-bearing debt the company had outstanding during 2018 were long-term bonds with a book value of $11,700,000 and an effective interest rate of 8%. Construction expenses incurred during 2018 were as follows:

January 1st	ps	670.000
march 1		702,000
July 31st		582,000
September 30th		770.000
December 31		470.000

Date	Spent		Weight			Average
January 1st		X			=
march 1		X			=
July 31st		X			=
September 30th		X			=
December 31		X			=
Accumulated expense	$0					$0
	Average		Interest rate			capitalized interest
cumulative average expenses	$0	X		%	=	$0

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