308,000 is incorrect

Show Incorrect Only A Question 7 (1 point) Retake question Company A purchased a corner lot five years ago at a cost of $173000. The lot was recently appraised at $154000. At the time of the purchase, the company spent $2000 to grade the lot and another $20000 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 $111000. What amount should be used as the initial cash flow for this building project? Your Answer: Answer 8