Dexter Construction Corporation is building a student condominium complex it started construction on January one year one. Dexter bar old 2.5 million dollars on January one specifically for the project by issuing a 10%, 5-year, 2.5 million dollar note, which is payable on December Thirty one of your three. Dexter also had a 12%, 5-year, $3000000 note payable and a 10%, 10-year, 1.8 million dollar note payable outstanding all year

In year 1, Dexter incurred cost as follows:

January 1 $300,000 March 1. 600,000 June 30. 1,000,000 November 1. 480,000

calculate dextrose capitalized interest on the student condominium complex for Year One

Capitalized interest =