Nals office supplies has experienced growing sales and management is looking to expand. They currently own a lot on main Street, a good location for a retail shot as indicated by a marketing survey. The survey cost was $20,000 last month. The lot was purchased two years ago at a cost of $100,000. Today, the property could be sold for $200,000 because of the increase in real estate prices. The land will have to be cleared before a new shop can be built at a cost of $40,000. The company can then build a new shopo at an estimated cost of $240,000. In addition, management recently allocated $80,000 in existing executive salaries to the new store. What is the cost of the expansion project?

$460,000

$480,000

$500,000

$580,000