Justin's Manufacturing Purchased a Lot in Lake City Ten Years

Justin's Manufacturing purchased a lot in Lake City ten years ago at a cost of $790,000. Today, that lot has a market value of $1.2 million. At the time of the purchase, the company spent $100,000 to grade the lot and another $20,000 to build a small garage on the lot to house additional equipment. The company now wants to build a new facility on the site. The building cost is estimated at $1.7 million. What amount should be used as the initial cash flow for this project?

A) -$2,490,000
B) -$2,610,000
C) -$2,900,000
D) -$3,020,000
E) -$3,690,000