A large west coast manufacturing firm has significant holdings of land because the products it manufactures require large manufacturing facilities. Recall that for accounting purposes, a tract of land is included in the Land account only if the land is used in the business. Land held as an investment is not included in the Land account but rather is included in Investments, which is not property, plant and equipment. For the year, the firms Land account increased from $800,000 (beginning balance) to $3,200,000 (ending balance). During the year, the firm sold $1,200,000 (original cost) of Land. No investments in land were purchased or sold during the year. Determine the amount of the investing cash outflow.

		a. 3,200,000
		b. 3,600,000
		c. 1,200,000
		d. 2,800,000
		e. 0