Hawkins Corporation began construction of a motel on March 31, 2016. The project

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Hawkins Corporation began construction of a motel on March 31, 2016. The project was completed on April 31, 2017. 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, 2016 $3,460,000 June 30, 2016 5,460,000 November 30, 2016 1,692,000 February 28, 2017 2,460,000 The company’s fiscal year-end is December 31.Calculate the amount of interest capitalized for 2016 and 2017

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Hawkins Corporation began construction of a motel on March 31, 2016. The project

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