On December 31, 2016, Ayayai Inc. borrowed $4,500,000 at 12% payable annually to finance the construction of a new building. In 2017, the company made the following expenditures related to this building: March 1, $540,000; June 1, $900,000; July 1, $2,250,000; December 1, $2,250,000. The building was completed in February 2018. Additional information is provided as follows. 1. Other debt outstanding 10-year, 13% bond, December 31, 2010, interest payable annually $6,000,000 6-year, 10% note, dated December 31, 2014, interest payable annually $2,400,000 2. March 1, 2017, expenditure included land costs of $225,000 3. Interest revenue earned in 2017 $73,500 Collapse question part (a) Determine the amount of interest to be capitalized in 2017 in relation to the construction of the building.