On January 1, 2024, a company began construction of an automated cattle feeder system The system was finished and ready for use on September 30, 2025 Expenditures on the project were as follows January 1, 2024 $ 250,000 September 1, 2024 $ 360,000 December 31, 2024 $ 360,000 March 31, 2025 $ 360,000 September 30, 2025 $ 250,000 The company borrowed $770,000 on a construction loan at 10 interest on January 1, 2024 This loan was outstanding throughout the construction period The company had $4,600,000 in 7 bonds payable outstanding in 2024 and 2025 Interest (using the specific interest method) capitalized for 2024 was

Question: On January 1, 2024, a company began construction of an automated cattle feeder system. The system was finished and ready for use on September 30,

On January 1, 2024, a company began construction of an automated cattle feeder system. The system was finished and ready for use on September 30, 2025. Expenditures on the project were as follows:

January 1, 2024	$ 250,000
September 1, 2024	$ 360,000
December 31, 2024	$ 360,000
March 31, 2025	$ 360,000
September 30, 2025	$ 250,000

The company borrowed $770,000 on a construction loan at 10% interest on January 1, 2024. This loan was outstanding throughout the construction period. The company had $4,600,000 in 7% bonds payable outstanding in 2024 and 2025.

Interest (using the specific interest method) capitalized for 2024 was?

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