Kelly's Corner Bakery purchased a lot in Oil City six years ago at a cost...
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Kelly's Corner Bakery purchased a lot in Oil City six years ago at a cost of 100000. Today, that lot has a market value of $120000. At the time of the purchase, the company spent $6,500 to level the lot and another $12,000 to install storm drains. The company now wants to build a new facility on the site at an estimated cost of $500000. What amount should be used as the initial cash flow for this project?
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