Doggy Co Began Construction of a New Cutter for the U

Doggy Co. began construction of a new cutter for the U.S. Coast Guard on January 1, 2014 and completed construction of the ship on October 31, 2015. To finance construction, Doggy took out an $8,000,000, 2-year, 6% construction loan on February 1, 2014. Interest on the loan was to be paid annually on the anniversary date of the loan. Doggy has no other outstanding interest-bearing debt. Doggy made the following expenditures in conjunction with this construction project:
$$\begin{array} { r r } \text { Date } & \text { Amount } \\2 / 1 / 2014 & \$ 1,050,000 \\3 / 31 / 2014 & 900,000 \\6 / 1 / 2014 & 750,000 \\10 / 1 / 2014 & 1,000,000 \\12 / 31 / 2014 & 600,000 \\3 / 1 / 2015 & 900,000 \\9 / 1 / 2015 & 250,000\end{array}$$
-What amount would appear in Doggy's construction in progress account at December 31,2014?

A) $2,325,000
B) $4,300,000
C) $4,439,500
D) $4,740,000