On December $31,2024,$ Skysong Inc. borrowed $$3,360,000$ at $13\%$ payable annually to finance the construction of a new building. In $2025,$ the company made the following expenditures related to this building: March $1,$$$403,200$; June $1,$$$672,000$; July $1,$ $$1,680,000$; December $1,$$$1,680,000.$ The building was completed in February $2026.$ Additional information is provided as follows.

Other debt outstanding:

$10-$year, $14\%$ bond, December $31,2018,$ interest payable annually $,$$$4,480,000$

$6-$year, $11\%$ note, dated December $31,2022,$ interest payable annually $,1,792,000$

March $1,2025,$ expenditure included land costs of $$168,000.$

Interest revenue of $$54,880$ earned in $2025.$