Kelly's corner bakery purchased a lot in oil city 6 years agao 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 nuild 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?