On January 2, 2017, Sheridan Company began the construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2018. Expenditures for the construction were as follows:

January 2, 2017	$ 608000
September 1, 2017	1812000
December 31, 2017	1812000
March 31, 2017	1812000
September 30, 2018	1209000

Sheridan Company borrowed $3340000 on a construction loan at 12% interest on January 2, 2017. This loan was outstanding during the construction period. The company also had $12100000 in 9% bonds outstanding in 2017 and 2018.
The interest capitalized for 2017 was:

Answer rating: 100% (QA)

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