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A company is looking at setting up a new production facility in Inland Empire. The...

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Accounting

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A company is looking at setting up a new production facility in Inland Empire. The company bought a piece of land six years ago for $5.9 million in anticipation of using it as a warehouse and distribution site, but the company has since decided to rent these facilities from a competitor instead. If the land were sold today, the company would net $6.2 million. The company wants to build its new production facility on this land; the facility will cost $13.4 million to build, and the site requires $860,000 worth of grading before it is suitable for construction. What is the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project? (Enter your answer as a positive value in dollars, not millions of dollars, e.g., 1,234,567.) Cash flow amount

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