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 $760,000. At the time of the purchase, the company spent $41,000 to level the lot and another $4,800 to install storm drains. The company now wants to build a new facility on that site. The building cost is estimated at $1,030,000. What amount should be used as the initial cash flow for this project?

a) $-1,030,000

b) $-1,641,000

c) $-1,600,000

d) $-1,790,000

e) $-1,831,000