Kelly's Corner Bakery purchased a lot in Oil City five years ago at a cost of $570,000. Today, that lot has a market value of $730,000. At the time of the purchase, the company spent $54,000 to level the lot and another $3,800 to install storm drains. The company now wants to build a new facility on that site. The building cost is estimated at $1,060,000. What amount should be used as the initial cash flow for this project?

$-1,790,000

$-1,060,000

$-1,844,000

$-1,684,000

$-1,630,000