Homecraft Stores (HSI), which operates a chain of retail warehouse-type stores, is considering opening a new store in the Tampa area. The store itself will cost

$7 million to build. In addition, fixtures for the store are expected to cost

$700,000, and installation of the fixtures is estimated to cost another $50,000.

Initial net working capital (primarily due to inventory) is expected to be

$600,000. HSI plans to build the Tampa store on land it purchased five years ago for $200,000. The land is presently worth $500,000 and is expected to remain at $500,000 while the store is being built. Calculate the net investment for the proposed Tampa store. P=857