Fluffy purchased a lot 6 years ago at a cost of $402,000. Today, that a lot has market value of $440,000. At the time of the purchase, the company spent $35,000 to level the lot and another $40,000 to install storm drains. The company now wants to build a new facility on that site. The building cost is estimated at $1.51 million. What amount should be used as the upfront cost for this project?