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Marshall's & co. purchased a corner lot in eglon city five years ago at a cost of $640,000. the lot was recently appraised at $810,000. at the time of the purchase, the company spent $50,000 to grade
Marshall's & co. purchased a corner lot in eglon city five years ago at a cost of $640,000. the lot was recently appraised at $810,000. at the time of the purchase, the company spent $50,000 to grade the lot and another $4,000 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 $1.2 million. what amount should be used as the initial cash flow for this building project?
