Current Attempt in Progress

Metlock Company is constructing a building. Construction began on February $1$ and was completed on December $31.$ Expenditures

were $$1,908,000$ on March $1,$ $$1,308,000$ on June $1,$ and $$3,011,000$ on December $31.$

Metlock Company borrowed $$1,016,000$ 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, $$2,195,000$ note payable and an $11\%,4-$year, $$3,605,000$ note payable. Compute

avoidable interest for Metlock Company. Use the weighted$-$average interest rate for interest capitalization purposes. $($Round

weighted$-$average interest rate to $4$ decimal places, e$.$g$.0\mathrm{.}2152$ and final answer to $0$ decimal places, e$.$g$.5,275.)$