Fey Enterprises recorded a restructuring charge of $15.4 million during the year related entirely to the closing of its division located in Austin, Texas. The companys financial statement footnotes indicated that expected employee separation payments amounted to $12.0 million and that fixed asset write-downs accounted for the remainder. Fey had never before incurred restructuring charges. At the end of the year, the companys balance sheet included a restructuring accrual of $2,565,000 . The cash flow effect of Fey Enterprises restructuring during the year is: Select one: a. $9,435,000 b. $12,835,000 c. $12,000,000 d. $0 (there was no cash flow effect during the year) e. $14,565,000