please answer accurate

On December 31, 2011, Taurus Group borrowed USD$300,000 at 10% payable annually to finance the construction of a new building. In 2012, the company made the following expenditures related to this building: March 1, USD$36,000; June 1, USD$60,000; July 1, USD$150,000; and December 1, USD$ 120,000. Additional information is provided as follows. USD$400,000 USD$ 160,000 Other debt outstanding 10-year, 10% bond, December 31, 2009, interest payable annually 6-year, 10% note, dated December 31, 2009, interest payable annually March 1, 2012, expenditure included land costs of USD$ 15,000 Interest revenue earned in 2012 on funds related to specific borrowing USD$ 4,900 Required: a. Determine the amount of interest to be capitalized in 2012 in relation to the construction of the building. (50 marks) b. Prepare the journal entry to record the capitalization of interest and the recognition of interest expense, if any, at December 31, 2012. (50 marks)