On January $1,2018,$ the Highlands Company began construction on

a new manufacturing facility for its own use. The building was

completed in $2019.$ The company borrowed $$1,550,000$ at $7\%$ on January

$1$ to help finance the construction. In addition to the construction

loan, Highlands had the following debt outstanding throughout $2018$:

$$9,000,000,11\%$ bonds $$3,000,000,7\%$ long$-$term note Construction

expenditures incurred during $2018$ were as follows: January $1$ $

$680,000$ March $311,280,000$ June $30896,000$ September $30680,000$

December $31480,000$ Required: Calculate the amount of interest

capitalized for $2018$ using the specific interest method.