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Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate 3 Thornton Industries began construction of a warehouse on July 1, 2021 The project was completed on March 31, 2022 No new loans were required to fund construction Thornton does have the following two interest-bearing liabilities that were outstanding throughout the construction period: $6,000,000, 9% note $9,000,000, 4% bonds Construction expenditures incurred were as follows July 1, 2021 September 30, 2021 November 30, 2021 January 30, 2022 $ 740,000 1,110,000 1,110,000 1,050,000 The companys fiscal year-end is December 31 Required: Calculate the amount of interest capitalized for 2021 and 2022 * Answer is not complete. Complete this question by entering your answers in the tabs below. 2021 2022 decimal place (.e. 0.123 should be entered as 12.3%)) Calculate the amount of interest capitalized for 2022. (Do not found the intermediate calculations. Round your percentage answers to 1 Weight Average Expenditure S 1,480,000 $ Date January 1, 2022 January 30, 2022 213 $ 1.480,000 D Amount Interest Rate Capitalized Interest Average accumulated expenditures U X U Answer is not complete. Complete this question by entering your answers in the tabs below. 2021 2022 Calculate the amount of interest capitalized for 2021. (Do not round the intermediate calculations. Round your percentage answers to 1 decimal place (i.e. 0.123 should be entered as 12.3%).) Weight 616 Date July 1 2021 September 30, 2021 November 30, 2021 Accumulated expenditures Expenditure S 740 000 X 1, 110.000 1,110,000 $ 2,960,000 316 116 Average $ 740,000 555,000 185,000 $ 1.480.000 Amount Interest Rate Capitalized Interest $ 44 400 Average accumulated expenditures $ 1480.000 X 6.0 6/12 2022 >