Question: Turner Corp. is manufacturing an asset that qualifies for interest capitalization. There are specific and non-specific loans outstanding all year. The following expenditures were made for this project in 20X1: Date Amount January 1 $ 500,000 April 13 2,000,000 November 20 3,000,000 Required: What is the weighted-average expenditure amount for 20X1? Round calculations to the nearest whole month and whole dollar.