The Red Grape purchased a parcel of land six years ago for $428,700. At that time, the firm invested $64.000 grading the site so that it would be usable. Since the firm wasn't ready to use the site itself at that time, it decided to lease the land for $51,000 a year. The Red Grape is now considering building a hotel on the site as the rental lease is expiring. The current value of the land is $538,000. The firm has no loans or mortgages secured by the property. What value should be included in the initial cost of the hotel project for the use of this land? $428,700 $538.000 $0 $492,700 O $51.000