Sea Maters Inc. purchased a lot in Phenix City $6$ years ago at a cost of $$290,000.$ Today, that lot has a market value of $$550,000.$ At the time of the purchase, the company spent $$11,000$ to improve the site for a future use. The company now wants to build a new facility on that site. The actual contruction cost is estimated at $$1\mathrm{.}3$ million. What amount should be used as the initial cash outflow $($Cf$0)$ for this project? Put a positive dollar amount, and round it to a whole dollar, e$.$g$.,123,456.$