Current Attempt in Progress

Hanson Company is constructing a building, Construction began on February $1$ and was completed on December $31.$ Expenditures were $$1,800,000$ on March $1,$ $$1,200,000$ on June $1,$ and $$3,000,000$ on December $31.$

Hanson Company borrowed $$1,000,000$ on March $1$ on a $5-$year, $12\%$ note to help finance construction of the building. In addition, the company had outstanding all year a $10\%,5-$year, $$2,000,000$ note payable and an $11\%,4-$year, $$3,500,000$ note payable. Compute avoidable interest for Hanson Company. Use the weighted$-$average interest rate for interest capitalization purposes. $($Round weighted overage interest rate to $4$ decimal places, eg$.0\mathrm{.}2152$ and final answer to O decimal places, eg $5,275)$

Avoidable interest

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