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Arkansas Corp. is preparing its statement of cash flows using the indirect method. It provides the following information about transactions for the year: Plant assets,netbeginning
Arkansas Corp. is preparing its statement of cash flows using the indirect method. It provides the following information about transactions for the year:
Plant assets,netbeginning balance: $110,000
Plant assets, netending balance: $145,000
Equipment was purchased for $67,000 with cash.
Equipment with a net asset value of $12,000 was sold for $16,800.
Depreciation Expense of $17,000 was recorded during the year.
What was the amount of net cash provided by (used for) investing activities?
A.$(67,200)
B.$(50,200)
C.$50,200
D.$(34,800)
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