Selby Corporation is constructing a new wind power-generating facility. Construction began on January 2 and was completed on December 31 of the current year. Selby made the following expenditures during the year: (Click the icon to view expenditures.) To specifically finance the project, Selby issued $2,900,000 of 2-year, 11% notes payable on January 2. Interest is payable annually on December 31 each year. It earned interest income of $4,000 from investing the proceeds of the note during the year. What amount of interest can Selby capitalize during the year? Let's begin by calculating the weighted-average accumulated expenditures for the current year. (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar.) Date Weighted-Average Accumulated Expenditures (Current Year) January 2 August 1 October 1 December 1 Total Accumulated Expenditure Expenditure Table $ Now, determine the amount of interest to be capitalized by Selby Corporation. (Round your answer to the nearest whole dollar.) The interest to be capitalized is Date January 2 August 1 Amount October 1 $ 505,000 480,000 1,230,000 December 1 685,000 Enter any number in the edit fields and then continue to the next question. Print Done