Kelly's Corner Bakery Purchased a Lot in Oil City 6

Kelly's Corner Bakery purchased a lot in Oil City 6 years ago at a cost of $280,000. Today, that lot has a market value of $340,000. At the time of the purchase, the company spent $15,000 to level the lot and another $20,000 to install storm drains. The company now wants to build a new facility on that site. The building cost is estimated at $1.47 million. What amount should be used as the initial cash flow for this project?

A) -$1,470,000
B) -$1,810,000
C) -$1,825,000
D) -$1,845,000
E) -$1,860,000