KN Jewelers purchased some land four years ago at a cost of $218,001. They spent

$45,000 to raze the old building and clear the lot. Today, the lot is valued at $237,000

and produces an annual income of $22,000 from its use as a parking lot. KN has drawn

plans to construct a new retail store on this land. The lot preparation costs will be

$28,000 and the building will cost $229,500. The initial cost of this project is:

132)

A)

$475,500.

B)

$516,500.

C)

$539,500.

D)

$466,500.

E)

$494,500.

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