Question: Parker & Stone, Incorporated, is looking at setting up a new manufacturing plant Park to produce garden tools. The company bought some land six years
Parker \& Stone, Incorporated, is looking at setting up a new manufacturing plant Park to produce garden tools. The company bought some land six years ago million in anticipation of using it as a warehouse and distribution site, but the has since decided to rent these facilities from a competitor instead. If the land v today, the company would net $6.1 million. The company wants to build manufacturing plant on this land; the plant will cost $13.3 million to build, anc requires $850,000 worth of grading before it is suitable for construction. Wr proper cash flow amount to use as the initial investment in fixed assets when e this project? (Do not round intermediate calculations and enter your answer it not millions of dollars, e.g., 1,234,567.)
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