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10.Maggie's Corner Bakery purchased a lot in Oil City 6 years ago at a cost of $302,000. Today that lot has a market value of
10.Maggie's Corner Bakery purchased a lot in Oil City 6 years ago at a cost of $302,000. Today that lot has a market value of $340,000.At the time of the purchase, the company spent $15,000 to level the lot and another $20,000 to install storm drains.The company now wants to build a new facility on that site.The facility cost will be $1.51 million.What amount should be used as the initial cash flow for this project?
A.-$1,510,000
B.-$1,850,000 (correct answer)
C.-$1,885,000
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