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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
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
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