The management team of Floyd s Corner Markets has decided to expand by adding a retail shop on a vacant lot they own They will build a new building at an estimated cost of 1 5 million They will spend another 100 thousand on the parking and access roads The land was purchased ten years ago at a cost of 500 thousand Today the land could be sold for 1 6 million They will also need to add to the landscaping at a cost of 200 thousand Finally two new managers will be needed and the CFO has allocated 200 thousand in executive salaries to the project What is the cost of this expansion project 3 6 million 3 4 million 4 1 million 3 7 million