Blossom furniture company started construction of a combination office and warehouse building for its own use at an estimated cost of $11,000,000 on january 1, 2020. blossom expected to complete the building by december 31, 2020. blossom has the following debt obligations outstanding during the construction period. construction loan-12% interest, payable semiannually, issued december 31, 2019 $4,400,000 short-term loan-10% interest, payable monthly, and principal payable at maturity on may 30, 2021 3,080,000 long-term loan-11% interest, payable on january 1 of each year. principal payable on january 1, 2024 2,200,000assume that headland completed the office and warehouse building on december 31, 2017, as planned at a total cost of $5,197,700, and the weighted-average amount of accumulated expenditures was $3,781,600. compute the avoidable interest on this project. (use interest rates rounded to 2 decimal places, e. g. 7.58% for computational purposes and round final answers to 0 decimal places, e. g. 5,275.)avoidable interest $compute the depreciation expense for the year ended december 31, 2018. headland elected to depreciate the building on a straight-line basis and determined that the asset has a useful life of 30 years and a salvage value of $298,200. (round answer to 0 decimal places, e. g. 5,275.)depreciation expense $