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Purple Power Paints owns a number of paint stores in Manhattan. One store, PPPaints, originally cost $2.8 million, is fully paid off but needs modernized.

Purple Power Paints owns a number of paint stores in Manhattan. One store, PPPaints, originally cost $2.8 million, is fully paid off but needs modernized. PPP has been offered $2.1 million for PPPaints but is deciding whether to sell or renovate. The projected cost of renovation is $2.3 million. The store would close during the renovation which would cause an aftertax net loss of $190,000 in today's dollars. The estimated present value of the cash inflows from the renovated store is $5.2 million. When determining the cash flows for the renovation project, what cost, if any, should be included for the current store?

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