Flounder Company is constructing a building Construction began on February 1 and was completed on December 31. Expenditures were $5,220,000 on March 1, $3,480,000 on June 1, and $8,700,000 on December 31. Flounder Company borrowed $2,900.000 on March 1 on a 5-year, 10% note to help finance construction of the building. In addition, the company had outstanding all year a 12%, 5-year, $5,800,000 note payable and an 11%, 4-year, $10,150,000 note payable. Compute avoidable interest for Flounder Company. Use the weighted average interest rate for interest capitalization purposes. (Round "Weighted average interest rate" to 4 decimal places, e.g. 0.2152 and final answer to o decimal places, e.g. 5,275.) Avoidable interest $ $