please complete correctly

A company constructs a building for its own use. Construction began on January 1 and ended on December 30. The expenditures for construction were as follows: January 1, $700,000; March 31, $800,000, June 30, $600,000; October 30, $1,200,000. To help finance construction, the company arranged a 8% construction loan on January 1 for $1.100.000. The company's other borrowings, outstanding for the whole year, consisted of a $7 million loan and a $9 million note with interest rates of 10% and 6%, respectively. Assuming the company uses the specific interest method, calculate the amount of interest capitalized for the year. (Do not round intermediate calculations. Round your percentage answers to 2 decimal places (i.e. 0.1234 should be entered as 12.34%).) Date January 1 March 31 June 30 October 30 Accumulated expenditures Expenditure $ 700,000 800,000 600,000 x 1,200,000 $ 3,300,000 Weight Average 12/12 = $ 700,000 9/12 = 600,000 6/12 = 1 300,000 2/12 = 200,000 $ 1,800,000 Interest Rate Capitalized Interest Average accumulated expenditures Construction loan Other loans (not construction) Average $ 1,800,000 1,100,000 $ 110,000 10.00% 6.00% = | $ 110,000