On December $31,2019,$ Splish Inc. borrowed $$3,060,000$ at $13\%$ payable annually to finance the construction of a new building. In $2020,$ the company made the following expenditures related to this building: March $1,$ $$367,200$; June $1,$ $$612,000$; July $1,$ $$1,530,000$; December $1,$ $$1,530,000.$ The building was completed in February $2021.$ Additional information is provided as follows.

$1.$ Other debt outstanding

$10-$year, $14\%$ bond, December $31,2013,$ interest payable annually $$4,080,000$

$6-$year, $11\%$ note, dated December $31,2017,$ interest payable annually $$1,632,000$

$2.$ March $1,2020,$ expenditure included land costs of $$153,000$

$3.$ Interest revenue earned in $2020$ $$49,980$