Elisa graduated from college with a double major and was inducted into the phi beta kappa society. she was then offered a job in new york where she worked 12 hours a day and produced excellent results. within two years she had over 100 employees working under her. elisa's hard work was rewarded with a raise and a bonus. this form of promotion is based on the principles of

Sailcloth & more currently produces boat sails and is considering expanding its operations to include awnings for homes and travel trailers. the company owns land beside its current manufacturing facility that could be used for the expansion. the company bought this land 5 years ago at a cost of $319,000. at the time of purchase, the company paid $24,000 to level out the land so it would be suitable for future use. today, the land is valued at $295,000. the company has some unused equipment that it currently owns valued at $38,000. this equipment could be used for producing awnings if $12,000 is spent for equipment modifications. other equipment costing $490,000 will also be required. what is the amount of the initial cash flow for this expansion project?