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Hawkins Corporation began construction of a motel on March 31, 2021. The project was completed...

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Accounting

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Hawkins Corporation began construction of a motel on March 31, 2021. The project was completed on April 30, 2022. No new loans were required to fund construction. Hawkins does have the following two interest-bearing liabilities that were outstanding throughout the construction period: $5,600,000, 6% note $10,240,000, 10% bonds Construction expenditures incurred were as follows: March 31, 2021 June 30, 2021 November 30, 2021 February 28, 2022 $3,460,000 5,460,000 1,692,000 2, 460,000 The company's fiscal year-end is December 31 Required: Calculate the amount of interest capitalized for 2021 and 2022. (Round weighted average interest rate to 2 decimal places and final answers to the nearest whole dollar.) 2021 2022 Amount of interest

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