Kenny, Inc., is looking at setting up a new

manufacturing plant in South Park. The company

bought some land six years ago for $$7\mathrm{.}3$ million in

anticipation of using it as a warehouse and distribution

site, but the company has since decided to rent facilities

elsewhere. The land would net $$10\mathrm{.}1$ million if it were

sold today. The company now wants to build its new

manufacturing plant on this land; the plant will cost

$$23\mathrm{.}43$ million to build, and the site requires $$880,000$

worth of grading before it is suitable for construction.

Required:

What is the proper cash flow amount to use as the initial

investment in fixed assets when evaluating this

project? $($Do not include the dollar sign $($$$).$ Enter

your answer in dollars $($e$.$g$.,1,234,567),$ not millions

of dollars.$)$