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Justin's Manufacturing purchased a lot in Lake City ten years ago at a cost of $ 7 9 0 , 0 0 0 . Today,
Justin's Manufacturing purchased a lot in Lake City ten years ago at a cost of $ Today, that lot has a market value of $ million. At the time of the purchase, the company spent $ to grade the lot and another $ to build a small garage on the lot to house additional equipment. The company now wants to build a new facility on the site. The building cost is estimated at $ million. What amount should be used as the initial cash flow for this project?
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