Balance sheet data for Martinez Company at the end of $2025$ and $2024$ follow:

Land was acquired for $$204000$ in exchange for common stock, par $$204000,$ during the year; all equipment purchased was for cash.

Equipment costing $$24000$ was sold for $$10000$; book value of the equipment was $$15000$ and the loss was reported in net income.

Cash dividends of $$30000$ were charged to retained earnings and paid during the year; the transfer of net income to retained earnings

was the only other entry in the Retained Earnings account.

In Martinez's statement of cash flows for the year ended December $31,2025,$ the net cash provided $($used$)$ by investing activities was

$$(88000).$

$$(78000).$

$$54000.$

$$(264000).$