Used as the initial cash outflow for this project

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Reference no: EM132047792

Sea Maters Inc. purchased a lot in Phenix City 6 years ago at a cost of $280,000. Today, that lot has a market value of $480,000. At the time of the purchase, the company spent $10,000 to improve the site for a future use. The company now wants to build a new facility on that site. The actual contruction cost is estimated at $1.3 million. What amount should be used as the initial cash outflow for this project? Put a positive dollar amount, and round it to a whole dollar.

Reference no: EM132047792

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