Samson's purchased a lot four years ago at a cost of $398,000. At that time, the firm spent $289,000 to build a small retail out
let on the site. The most recent appraisal on the property placed a value of $629,000 on the property and building. Samson’s now wants to tear down the original structure and build a new strip mall on the site at an estimated cost of $2.3 million. What amount should be used as the initial cash flow for new project?
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