Current Attempt in Progress

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

were $$3,240,000$ on March $1,$ $$2,160,000$ on June $1,$ and $$5,400,000$ on December $31.$

Sheffield Company borrowed $$1,800,000$ on March $1$ on a $5-$year, $10\%$ note to help finance construction of the building. In addition,

the company had outstanding all year a $12\%,5-$year, $$3,600,000$ note payable and an $11\%,4-$year, $$6,300,000$ note payable. Compute

avoidable interest for Sheffield 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$.5,275.)$

Avoidable interest $