On january 1, 2017, oksana baiul, inc. signed a fixed-price contract to have builder associates construct a major plant facility at a cost of $4,000,000. it was estimated that it would take 3 years to complete the project. also on january 1, 2017, to finance the construction cost, oksana baiul borrowed $4,000,000 payable in 10 annual installments of $400,000, plus interest at the rate of 10%. during 2017, oksana baiul made deposit and progress payments totaling $1,500,000 under the contract; the weighted-average amount of accumulated expenditures was $800,000 for the year. the excess borrowed funds were invested in short-term securities, from which oksana baiul realized investment income of $250,000. what amount should oksana baiul report as capitalized interest at december 31, 2014?