Spartan Co purchased a lot in Buffalo $6$ years ago at a cost of $$360,000.$ Today, that lot has a market value of $$520,000.$ At the time of the purchase, the company spent $$12,000$ to level the lot and another $$20,000$ to install storm drains. The company now wants to build a new facility on that site. The building cost is estimated at $$1$ million. What amount should be used as the initial cash flow for this project?

$-$$$1,170,000$

$-$$$1,228,000$

$-$$$1,520,000$

$-$$$1,640,000$