0/1 E Question 1 of 3 Current Attempt in Progress Larkspur Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $5,043,000 on January 1, 2017. Larkspur expected to complete the building by December 31, 2017. Larkspur has the following debt obligations outstanding during the construction period. Construction loan-10% interest, payable semiannually, issued December 31, 2016 $2,010.900 Short-term loan-8% interest, payable monthly, and principal payable at maturity on May 30, 2018 1,608,200 Long-term loan-9% interest, payable on January 1 of each year, Principal payable on January 1, 2021 1,003,400 (a) x Your answer is incorrect: Assume that Larkspur completed the office and warehouse building on December 31, 2017, as planned at a total cost of $5,167,000, and the weighted average amount of accumulated expenditures was $3,776,000. Compute the avoidable interest on this project. (Use Interest rates rounded to 2 decimal places, eg. 7.58% for computational purposes and round final answers to o decimal places, eg. 5,275.)