Parker & Stone, Inc. is looding at setting up a new manufacturing plant in South Park to produce garden tools. The company bought some land 11 years ago for $7 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. Ir the land were sold today, the company would net $96 milion. The company wants to build its new manufacturing plant on this land, the plant will cost $14.2 million to build and the site requires $1,344,000 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? $22.456,000 $26.401,200 $21538 240 O $25144,000 $23,800,000 References eBook & Resources Multiple Choice Learning Objective: 10-01 How to determine the relevant cash flows for a proposed project > Difficulty. Basic Section 102 Incremental Cash Flows 00 9:11 PM 1/2/2020