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4. During the year, Rafael Corporation paid dividends of $23,000, received cash by signing a note payable of $105,000, purchased a piece of equipment for

4. During the year, Rafael Corporation paid dividends of $23,000, received cash by signing a note payable of $105,000, purchased a piece of equipment for $29,400 and received dividend income of $12,000. What would be Rafaels cash flow from financing activities for the year?

a. $64,600

b. $82,000

c. $52,600

d. $94,000

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