On January $1,2021,$ the Highlands Company began construction on a new manufacturing facility for its own use. The

building was completed in $2022.$ The company borrowed $$2,150,000$ at $9\%$ on January $1$ to help finance the

construction. In addition to the construction loan, Highlands had the following debt outstanding throughout $2021$ :

$$8,000,000,14\%$ bonds

$$2,000,000,9\%$ long$-$term note

Construction expenditures incurred during $2021$ were as follows:

Required:

Calculate the amount of interest capitalized for $2021$ using the specific interest method. $($Do not round the

intermediate calculations. Round your percentage answers to $1$ decimal place $($i$.$e$.0\mathrm{.}123$ should be entered as

$12\mathrm{.}3\%).)$