During 2018, Stout Inc. had the following activities related to its financial operations:

Book Value of Stout Convertible Preferred Stock, converted into common shares of Stout $540,000

Payment in 2018 of the cash dividend declared in 2017 to preferred shareholders 279,000

Payment for early withdrawal of long-term bonds payable (carrying amount $3,930,000) 3,975,000

Proceeds from the sale of own shares (in books at a cost of $387,000) 450,000

Calculate the amount of net cash used in financing activities that will appear on Stout's statement of cash flows for 2018 .