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Kelly's Corner Bakery purchased a lot in Oil City five years ago at a cost of $670,000. Today, that lot has a market value of
Kelly's Corner Bakery purchased a lot in Oil City five years ago at a cost of $670,000. Today, that lot has a market value of $870,000. At the time of the purchase, the company spent $50,000 to level the lot and another $4,900 to install storm drains. The company now wants to build a new facility on that site. The building cost is estimated at $1,010,000. What amount should be used as the initial cash flow for this project? Multiple Choice O $-1,880,000 $-1,680,000 $-1,010,000 $-1,730,000 $-1,930,000
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