Compute the amounts for Weighted-average accumulated expenditures qualifying for capitalization of interest cost.

Early in 2017, Dobbs Corporation engaged Kiner, Inc. to design and construct a complete modernization of Dobbs’s manufacturing facility. Construction was begun on June 1, 2017 and was completed on December 31, 2017. Dobbs made the following payments to Kiner, Inc. during 2017:

Date
Payment
June 1, 2017
$6,156,000
August 31, 2017
9,084,000
December 31, 2017
7,380,000

In order to help finance the construction, Dobbs issued the following during 2017:

1. $5,050,000 of 10-year, 9% bonds payable, issued at par on May 31, 2017, with interest payable annually on May 31.

2. 300,000 shares of no-par common stock, issued at $10 per share on October 1, 2017.
In addition to the 9% bonds payable, the only debt outstanding during 2017 was a $1,270,000, 12% note payable dated January 1, 2013 and due January 1, 2023, with interest payable annually on January 1.
Compute the amounts of each of the following:
1.Weighted-average accumulated expenditures qualifying for capitalization of interest cost.
2.Avoidable interest incurred during 2017.
3.Total amount of interest cost to be capitalized during 2017.