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Parker & Stone, Incorporated, is looking at setting up a new manufacturing plant in South Park to produce garden tools. The company bought some land

Parker & Stone, Incorporated, is looking at setting up a new manufacturing plant in South Park to produce garden tools. The company bought some land six years ago for $8.9 million in anticipation of using it as a warehouse and distribution site, but the company has since decided to rent facilities elsewhere. If the land were sold today, the company would net $11.7 million. The company now wants to build its new manufacturing plant on this land; the plant will cost $22.9 million to build, and the site requires $1,040,000 worth of grading before it is suitable for construction. What is the proper cash flow amount to use as the initial investment in fixed assets when
02:27:38
Note: A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in dollars, not millions, rounded to the nearest whole number, e.g.,1,234,567.

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