Question: On January 1 , 2 0 2 4 , the Shagri Company began construction on a new manufacturing facility for its own use. The building

On January 1,2024, the Shagri Company began construction on a new manufacturing facility for its own use. The building was
completed in 2025. The only interest-bearing debt the company had outstanding during 2024 was long-term bonds with a book value
of $10,100,000 and an effective interest rate of 9%. Construction expenditures incurred during 2024 were as follows:
Required:
Calculate the amount of interest capitalized for 2024.
On January 1,2024, the Shagri Company began construction on a new

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