31. (3 points) B constructed a warehouse for its own use. B started construction on January I and completed construction on December 31. Construction expenditures were as follows: $600,000 on January 1 $240,000 on March 31 $300,000 on July 31 $480,000 on November 1 During the enre year B had the following outstanding notes payable, none of which were construction-related: A 4%, 5-year $3,000,000 note payable A 6%, 7-year $6,000,000 note payable A 5%, 4-year $2,000,000 note payable What were B's total interest costs for the year? What amount of interest should B capitalize on this construction project? c) What was B's interest expense for the year? When necessary, round any interest rate as follows: 4.873 %-4.9% while 3.314% -3.3%