Interest During Construction Matrix Inc. borrowed $1,000,000 at 8% to finance the construction of a new building for its own use. Construction began on January 1, 2016, and was completed on October 31, 2016. Expenditures related to this building were: January 1$252,000 (includes cost of purchasing land of $150,000 ) May 1320,000 July 1420,000 October 31280,000 In addition, Matrix had additional debt (unrelated to the construction) of $500,000 at 9% and $800,000 at 10%. All debt was outstanding for the entire year. Required: 1. Compute the amount of interest capitalized related to the construction of the building. $x 2. If the expenditures are assumed to have been incurred evenly throughout the year: Compute weighted average accumulated expenditures $ x Compute the amount of interest capitalized on the building $x