clay company started construction of a new office building on january 1, 2001, and moved into the finished building on july 1, 2002. of the building's $2,500,000 total cost, $2,000,000 was incurred in 2001 evenly throughout the year. clay's incremental borrowing rate was 12% throughout 2001, and the total amount of interest incurred by clay during 2001 was $102,000. what amount should clay report as capitalized interest at december 31, 2001?