Bell Brewery paid $1,000,000 for land three years ago. Bell estimates it can sell the land for $1,200,000, net of selling costs. If the land is not sold, Bell plans to develop the land at a cost of $1,500,000. Bell estimates net cash flow from the development in the first year of operations would be $500,000. What is Bell's opportunity cost of the development?
A. $1,500,000
B. $1,000,000
C. $1,200,000
D. $500,000