During the current year, Maine Salvage Company took out new loans of $14 million. In addition, the company repaid $2.6 million of prior loans and paid $1.95 million of interest expense. Explain how these cash flows will appear in the company's statement of cash flows, indicating the classification and the dollar amount of each cash flow.

	Cash Flow	Amount (in millions)	Activity
New loans made
Loan repaid
Interest expense