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FINDING RELEVANT CASH FLOWS 3. Parker and Stone is looking at setting up a new...

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FINDING RELEVANT CASH FLOWS 3. Parker and Stone is looking at setting up a new manufacturing plant to produce garden tools. The company bought some land six years ago for $3,500,000 in anticipation of using it for a distribution site, but they since decided to rent this to a competitor instead. If the land were sold today, they could make $3,900,000. The company wants to build its new manufacturing site on this land. The manufacturing plant will cost $16,700,000 to build, and the site requires $850,000 worth of grading before it is suitable for construction. What is the proper amount to be used as the initial investment when evaluating this project

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