A company constructs a building for its own use. Construction began on January $1$ and ended on December $30.$ The expenditures for construction were as follows: January $1,$ $$590,000$; March $31,$ $$690,000$; June $30,$ $$490,000$; October $30,$ $$870,000.$ The company arranged a $8\%$ loan on January $1$ for $$880,000.$ Assume the $$880,000$ loan is not specifically tied to the construction of the building. The company$$s other borrowings, outstanding for the whole year, consisted of a $$4$ million loan and a $$6$ million note with interest rates of $12\%$ and $7\%,$ respectively.

Assuming the company uses the weighted$-$average method, calculate the amount of interest capitalized for the year.

A company constructs a building for its own use. Construction began on January $1$ and ended on December

The expenditures for construction were as follows: January $1,$ $$590,000$; March $31,$ $$690,000$; June $30,$

$$490,000$; October $30,$$$870,000.$ The company arranged a $8\%$ loan on January $1$ for $$880,000.$ Assume

the $$880,000$ loan is not specifically tied to the construction of the building. The company's other

borrowings, outstanding for the whole year, consisted of a $$4$ million loan and a $$6$ million note with interest

rates of $12\%$ and $7\%,$ respectively.

Assuming the company uses the weighted$-$average method, calculate the amount of interest capitalized for

the year.

Note: Enter your answers in whole dollars and not in millions. Do not round intermediate calculations.

Round your percentage answers to $2$ decimal places $($i$.$e$.0\mathrm{.}1234$ should be entered as $12\mathrm{.}34\%).$