Question: Mary & Sons started construct a new building on March 1 , 2 0 2 4 , and the new building was completed on October

Mary & Sons started construct a new building on March 1,2024, and the new building was completed on October 30,2024. Construction expenditures were as follows:
March 1 $ 900,000
June 301,200,000
July 301,200,000
September 1600,000
Mary did not borrow specifically for the construction project, but did have the following debt outstanding throughout 2024:
$6,000,000,8% long-term note payable
$2,000,000,5% long-term note payable
In December, the company purchased equipment and office furniture and fixtures for a lump-sum price of $900,000. The fair values of the equipment and the furniture and fixtures were $600,000 and $400,000, respectively.
What is the amount of interest expense that is added to the cost of the new building?

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