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Final Exam Fall24 F325
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Item29
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Item 29
Time Remaining 55 minutes 50 seconds
00:55:50
Marshall's & Co. purchased a corner lot in Eglon City five years ago at a cost of $680,000. The lot was recently appraised at $722,000. At the time of the purchase, the company spent $34,000 to grade the lot and another $4,400 to build a small building on the lot to house a parking lot attendant who has overseen the use of the lot for daily commuter parking. The company now wants to build a new retail store on the site. The building cost is estimated at $1,230,000. What amount should be used as the initial cash flow for this building project?
Multiple Choice
$1,959,800
$1,917,800
$1,952,000
$1,955,400
$1,910,000
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