On January $1,2019,$ Basker Research signed a contract to have Bob's Builders construct a laboratory building at a cost of $$20,000,000.$ It was estimated that it would take four years to complete the project. Also on January $1,2020,$ to finance the construction cost, Tolvin borrowed $$20,000,000$ payable in five annual installments of $$4,000,000$ plus interest at the rate of $7\%.$ During $2020,$ Tolvin made the following construction$-$related expenditures:

DateAmount$3/1$$$600,0007/1$$$700,00011/1$$$900,000$

What amount should Tolvin report as capitalized interest at December $31,2020?$

$$152,000$

$$1,400,000$

$$70,000$

$$84,000$