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Blair Madison Company issues $ 1 . 1 million of new stock and pays $ 2 0 1 , 0 0 0 in cash dividends

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Blair Madison Company issues $1.1 million of new stock and pays $201,000 in cash dividends during the year. In addition, the company took advantage of falling interest rates to borrow $1.51 million in a new bond issue and paid off existing bonds with a face value of $2.05 million. The company bought 501 of another company's $1,010 bonds at a $101,000 premium. The net cash flow provided by financing activities is:
Multiple Choice
An outflow of $101,000.
An outflow of $201,000.
An inflow of $540,000.
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