A company issues $1.7 million of new stock and pays $261,000 in cash dividends during the year. In addition, the company took advantage of falling interest rates to borrow $1.57 million in a new bond issue and paid off existing bonds with a face value of $2.35 million. The company bought 507 of another company's $1,070 bonds at a $107,000 premium. The net cash flow provided by financing activities is:

a. An outflow of $261,000.

b. An inflow of $659,000.

c. An inflow of $780,000.

d. An outflow of $107,000.