ABC Inc., is looking at setting up a new manufacturing plant in Loft Park to produce garden tools. The company bought some land 10 years ago for $7 million in anticipation of using it as a warehouse and distribution site, but the company has since decided to rent these facilities from a competitor instead. If the land were sold today, the company would net $9.4 million. The company wants to build its new manufacturing plant on this land; the plant will cost $14.2 million to build, and the site requires $1,034,000 worth of grading before it is suitable for construction. Required: What is the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project? $25,865,700 $23,600,000 $22,566,000 $21,248,640 O $24,634,000