Kellys corner bakery purchased a lot in oil city six years, Ask an Expert

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Kelly's Corner Bakery purchased a lot in Oil City six years ago at a cost of $278,000. Today, that lot has a market value of $264,000. At the time of the purchase, the company spent $6,000 to level the lot and another $8,000 to install storm drains. The company now wants to build a new facility on that site. The building cost is estimated at $1.03 million. What amount should be used as the initial cash flow for this project?

A. -$1,308,000

B. -$1,294,000

C. -$1,322,000

D. -$1,308,000

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92102323

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