Question 19 (3 points) A company is evaluating a new manufacturing plant to be used to produce tools. The company bought some land four years ago for $800,000 in anticipation of using it as a warehouse and distribution site, but the company has since decided to rent these facilities instead. If the land were sold today, the company would net $400,000. The company wants to build its new manufacturing plant on this land. The new manufacturing plant will cost $1,100,000 to build and site preparation prior to construction will cost $50,000. What is the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project? Enter your answer as dollars with 0 digits to the right of the decimal point in the box shown below