Please help me understand what the following question is asking, thanks.

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 thespecific 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 Expenditure X Weight = Average

January 1

March 31

June 30

October 30

Accumulated expenditures

___________________________________________________Amount Interest rate = Capitalized interest

Average accumulated expenditures

%

%