During 2016, T Company engaged in the following activities:

Distribution of cash dividends declared in 2015	$48
Fair value of shares issued in a stock dividend	220
Payment to retire bonds	452
Proceeds from the sale of treasury stock (cost: $52)	60

In T's statement of cash flows, what were net cash outflows from financing activities for 2016?

$392.

$440.

$560.

$732.