Dilwater Furniture purchased a comer lot in Pittsburg five years ago at a cost of $890,000. The lot was recently appraised at $1,070,000, At the time of the purchase, the company spent $80,000 to grade the lot and another $120,000 to pave the lot for commuter parking. The company now wants to build a new retail store on the site. The building cost is estimated at $1.8 million, What amount should be used as the initial cash flow for this building project? $3,070,000 $1,070,000 $1,800,000 $2,870,000 $2,890,000