* Your answer is incorrect. Indigo 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. Indigo 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 Indigo 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 decimal places, es. 5,275.) Avoldable interest 768732