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A company issues $1.6 million of new stock and pays $251,000 in cash dividends during...

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Accounting

A company issues $1.6 million of new stock and pays $251,000 in cash dividends during the year. In addition, the company took advantage of falling interest rates to borrow $1.56 million in a new bond issue and paid off existing bonds with a face value of $2.30 million. The company bought 506 of another company's $1,060 bonds at a $106,000 premium. The net cash flow provided by financing activities is:

A.An outflow of $106,000.

B.An outflow of $251,000.

C.An inflow of $740,000.

D.An inflow of $609,000.

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