A company issues $2.1 million of new stock and pays $301,000 in cash dividends during...
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A company issues $2.1 million of new stock and pays $301,000 in cash dividends during the year. In addition, the company took advantage of falling interest rates to borrow $1.61 million in a new bond issue and paid off existing bonds with a face value of $2.55 million. The company bought 511 of another company's $1,110 bonds at a $111,000 premium. The net cash flow provided by financing activities is:
An outflow of $301,000.
An inflow of $859,000.
An outflow of $111,000.
An inflow of $940,000.
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