P10-1 Relevant Cash Flows [LO1] Parker & Stone, Inc., is looking at setting up a new manufacturing plant in South Park to produce garden tools. The company bought some land 9 years ago for $5 million in anticipation of using it as a warehouse and distribution site, but the company has since decided to rent these facilities from a competitor instead. If the land were sold today, the company would net $10 million. The company wants to build its new manufacturing plant on this land, the plant will cost $13.2 million to build, and the site requires $800,000 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? O $25,200,000 o $18,040,000 $22,400,o00 O $24,000,000 O $23,200,000