Lauer's have decided to expand their retail shop by building on a vacant lot they own. The company will build a new building at an estimated cost of $4 million. The firm will spend another $500 thousand on the parking and access roads. The land was purchased ten years ago at a cost of $1 million. Today, that land is worth 1.5 million. What is the total cost of this expansion project? $4.5 million $7.0 million $5.5 million $6.0 million