scite industries purchased a corner lot in five years ago at a cost of $640 thousand. the lot was recently appraised at $806 thousand. at the time of the purchase, the company spent $56 thousand to grade the lot and another $10 thousand 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 $1.31 million. what amount should be used as the initial cash flow for this building project?
